The economic outlook for the coming year might still be grim, but that has not stopped investors from purchasing funds, sales of which have managed to hit an all time high.

As much as ten times more funds were put into investment funds by investors during 2009's first 11 months, as compared to the figure recorded for the same period the previous year. The revelations have been confirmed by the official numbers released yesterday.

Net sales of private investment funds managed to go beyond the 2 Billion Pounds mark for the eighth straight month in November, as confidence seemed to be returning to the markets, as per figures released by the Investment Management Association.

The inflow of funds for the month of November stood at 2.4 Billion Pounds, and took the 2009 total up-to a whopping 23.6 Billion Pounds. Figures for December are yet to be released. In sharp contrast, 2008's November recorded fund inflows of about 2.3 Billion Pounds as investors preferred to stay away from the markets.

Sales of Individual Savings Accounts hit 2.6 Billion Pounds, as of November end, which is the highest level recorded since 2002.

"It is good to see investors once again taking advantage of the benefits of Isas after several years of net outflows. The last few months have seen a resurgence of sales of equity and property funds", said Richard Saunders, Chief Executive of the IMA.