Net retail sales in the first half of 2012 were £8.1bn, almost double the £4.4bn figure during the second half of 2011, according to the Investment Management Association.
However, the figure was lower year-on-year when £13.7bn was sold during the first half of 2011.
On a monthly basis, June 2012 was below target with sales of £820m instead of the monthly average of £1.2bn. This made it the lowest month so far during 2012.
Fixed income remained the best-selling asset class while £ Corporate bond was the highest-selling sector.
Richard Saunders, chief executive of the Investment Management Association, said: "In the first six months of 2012, net retail sales have steadied at about a billion a month, following the very strong performance from 2009 to the first half of 2011.

"In June, the fixed income sectors again saw the strongest inflows with £ Corporate bond and Strategic bond continuing to secure the top two spots. These two sectors were also the best-sellers for Isa net retail sales."
Gross retail sales through fund platforms totalled £3.1bn in June with platforms taking 44 per cent of the market. Retail sales for "other intermediaries" including wealth managers and stockbrokers was £3.2bn, 45 per cent of the market.
The figures for platforms covered sales by Ascentric, Aviva Wrap, AXA Elevate, Cofunds, Fidelity, Hargreaves Lansdown, James Hay wrap, Novia, Nucleus, Skandia, Standard Life Savings and Transact.