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Embargoed: 12.00 noon: Wednesday 20 December 2000

INVESTORS "GOING FOR GROWTH"

  • Unit trust and OEIC gross sales up to £4.5 billion

  • November ISA sales - £669 million

  • Investment funds under management - £260 billion

Disappointing markets and seasonal sluggishness appear to be the main reasons for lower investment fund sales this November. Total investment fund sales rose to £4.5 billion, with retail sales remaining steady at £2.7 billion. ISA sales of £669 million, although lower than the equivalent figures for last month and November 1999 (£700m and £744m respectively), are higher than PEP sales for November 1998 (£659m).

Generally classified within the Specialist sector, technology funds have also been responsible for that sector’s popularity amongst private investors. This year has seen international growth sectors increasing their market share, at the expense of domestic, mainly income-oriented sectors. The Specialist, North America, Global Growth and Europe ex UK sectors have all increased their proportion of retail sales, whilst the UK Corporate Bond, UK All Companies, UK Equity and Bond Income and UK Equity Income sectors have lost out.

Sector share of retail sales in 2000 compared with 1999

Sectors

Difference

%

% of Retail Sales

Jan–Nov 2000

% of Retail Sales

Jan-Dec 1999

Specialist

6.53

9.96

3.43

North America

3.89

8.35

4.46

Global Growth

2.15

6.14

3.99

Europe ex UK

2.02

14.25

12.23

UK Corporate Bond

-6.85

4.62

11.47

UK All Companies

-3.25

24.67

27.93

UK Equity & Bond Income

-2.49

1.80

4.28

UK Equity Income

-2.46

4.74

7.20

Clare Arber, PR Manager at AUTIF, commented:

"With stockmarkets flat and interest rates low there is clearly a dilemma for investors as they search for performance. The continuing flows into core sectors, such as UK All Companies and Europe, suggest that investors do understand that performance is a long-term concept."

Summary table: Nov - Unit Trust, ISA and PEP data

 

Nov 00

Oct 00

Nov 99

Total funds

£260.2 bn

£266.7 bn

£238.2 bn

PEP funds

£56.5 bn

£58.1 bn

£58.2 bn

ISA funds

£17.6 bn

£17.5 bn

£6.0 bn

Total gross sales

£4,478.2 m

£4,358.8 m

£4,729.9 m

Total repurchases

£2,812.2 m

£2,519.6 m

£2,595.0 m

Total net sales

£1,666.0 m

£1,839.2 m

£2,134.9 m

Net retail sales

£1,091.3 m

£1,369.4 m

£1,149.0 m

Net institutional sales

£574.7 m

£469.8 m

£985.9 m

Gross PEP sales

£180.3 m

£146.0 m

£162.6 m

Gross ISA sales

£668.5 m

£699.8 m

£743.5 m

Net PEP sales

£-306.5 m

£-239.8 m

£-233.0 m

Net ISA sales

£578.5 m

£633.1 m

£719.5 m

Total accounts

16.4 m

16.2 m

13.9 m

ISA accounts

5.373 m

5.210 m

2.411 m

PEP accounts

9.01 m

9.07 m

9.57 m

Number of funds

1,923

1,907

1,768

Number of companies

157

157

153

For further information please contact:

Anne McMeehan, Director of Communications, AUTIF, +44 (0)20 7831 0898
Clare Arber, PR Manager, AUTIF, +44 (0)20 7831 0898
Dorian Carrell, Head of Statistics, AUTIF, +44 (0)20 7831 0898

Notes to Editors:

Best selling funds in November 2000

Net Retail Sales
UK All Companies
North America		 Net Institutional Sales
UK Corporate Bonds 
UK All Companies

Worst selling funds in November 2000

Net Retail Sales
UK Equity Income 
UK Corporate Bond		 Net Institutional Sales
 Far East Excluding Japan
Global Emerging Markets

Summary Sheet
Sector Summary
Retail Gross Sales
Retail Repurchases
Retail Net Sales
Institutional Sales
PEP Summary

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© IMA 2002. Last Updated: 20 April, 2001