Fixed income funds experienced their highest net retail outflow of £624 million (nearly US$951 million) in during June as yields spiked on fears of an end to US quantitative easing, according to data released by the UK’s Investment Management Association (IMA).

The outflows from bond funds are only a fraction of the £120 billion or so under management overall, but still signify a significant change in sentiment given that fixed interest was the in-demand asset class with investors until not so long ago.

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The three worst selling IMA sectors for the month of June were £ Corporate Bond, Global Bonds and £ Strategic Bond.

Equity remained the best-selling asset class in June 2013 with net retail sales of £884 million. For second quarter of 2013 sales were £2.5 billion – the highest since fourth quarter of 2010.

Mixed Asset continued to be the second best-selling with net retail sales of £326 million. The second quarter figure was £1.3 billion – the highest since second quarter of 2011.

Property saw net retail sales of £132 million in June 2013 and £358 million in second quarter of 2013 – the highest levels since July 2010 and second quarter of 2010 respectively.

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By region, UK equity funds were the best-sellers in June 2013 with net retail sales of £479 million – the highest since October 2006. This is the first time since May 2012 that Global equity funds have been beaten as the top-selling equity funds region. In terms of quarterly net retail sales, UK equity funds secured £857 million for second quarter of 2013 – the highest since fourth quarter of 2006.

Global equity funds were the second best-sellers in June 2013 with net retail sales of £262 million. They have previously been the best-selling every month since May 2012. In terms of the quarterly figures, Global equity funds remained the best-selling with net retail sales of £1 billion.

North America was the third best-selling sector both in June 2013 and second quarter of 2013 with net retail sales of £138 million and £407 million respectively.

In June 2013, Japan saw the highest monthly sales since August 2011 with net retail sales of £62 million.

Europe was the only region to see a net retail outflow in June 2013 at £66 million – the first since August 2012.

Jonathan Lipkin, IMA director of public policy, said: "Overall June net retail sales were in line with recent averages, and net retail sales during the first half of 2013 were comparable to the same period in 2012."