UK fund assets back near all-time highs-Lipper

* UK fund assets up 20 percent in Q3

* Assets close to highs reached in 2007

LONDON, Nov 9 (Reuters) - Buoyant stock markets and a rush
out of cash as interest rates remain at record lows have driven
UK fund assets close to their all-time highs reached in 2007,
research firm Lipper FMI said on Monday.

Lipper's latest survey of UK fund trends shows UK fund
assets up 20 percent at 463 billion pounds ($776.8 billion) in
the third quarter.

Funds reached a peak of 468 billion pounds in 2007 on the
eve of the financial crisis.

The survey also showed net sales of funds, taking into
account outflows, were back in the black at 9 billion pounds in
the third quarter.

In the same period last year, gross sales were 24 billion
but a rush to safety amid plunging markets resulted in a net
outflow of 4.5 billion pounds, Lipper said.

M&G (PRU.L) and Invesco Perpetual (IPU.L) continue to hold
the top two rankings among UK fund managers in terms of
attracting the most retail client money.

For a graphic showing a breakdown of the top ten managers by
gross retail sales in Q3, click:
here

However, Lipper said fund managers owned by banking groups
have struggled to retain their league table places as their
parents focused on balance sheet repair over selling investment
products.
(Reporting by Chris Vellacott)
($1=.5960 Pound)