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Embargoed: 12.00 noon: Monday 25 June 2001

 

INVESTMENT FUND STATISTICS MAY 2001

RETAIL INVESTORS SLOW TO FOLLOW INSTITUTIONAL PLAYERS’ LEAD

 

  • Gross industry sales - £4.4bn       (£4.1bn in May 2000)

  • Gross retail sales - £2.6bn           (£2.75bn in May 2000)

  • Gross ISA sales - £747m              (£903m in May 2000)

  • Net industry sales -  £1.6bn         (£1.29bn in May 2000)

  • Net retail sales –  £797m             (£1.25bn in May 2000)

  • Net ISA sales - £639m                  (£854m in May 2000)

  • Total investment funds under management - £259bn

Gross sales for the investment funds industry of £4.4bn rose by 8% on May 2000, with net industry sales growing by 24% to £1.6bn.  This was due, in the main, to continued positive flow via institutional investors.  Private investors, however, appear less confident.  Gross retail sales of £2.6bn and their net equivalent of £797m are lower than May last year.  However, retail savers are staying put in income funds, as well as increasing investment levels in bond funds; the main UK, European and US equity sectors also remain popular.

Gross sales of ISAs reached £747m in May, with net sales of £639m.  Sales forces and tied agents were the top sellers of unit trust and OEIC ISAs this month, with 42% of sales.  IFAs accounted for 37% of sales, whilst the “direct” channel was responsible for 21%.  ISA funds under management stand at £21bn, with over 6.75 million accounts opened since they were first introduced in April 1999. 

Clare Arber, PR Manager, commented:

“It’s a seasonal trend for sales of unit trusts and OEICs to slow down in May.  This year is no different – but investment levels are lower.  Whilst institutions continue to view equities worldwide in a positive light, private investors still seem wary of using the stockmarket to create long term growth.”

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

 

May 01

Apr 01

May 00

Total funds

£259.4 bn

£260.0 bn

£260.7 bn

PEP funds

£53.4 bn

£54.0 bn

£59.5 bn

ISA funds

£21.4 bn

£21.1 bn

£13.3 bn

Total gross sales

£4,444.0 m

£5,060.8 m

£4,096.1 m

Total repurchases

£2,843.1 m

£2,165.4 m

£2,809.0 m

Total net sales

£1,600.9 m

£2,895.3 m

£1,287.2 m

Net retail sales

£797.0 m

£1,947.2 m

£1,251.7 m

Net institutional sales

£803.9 m

£948.1 m

£35.5 m

Gross PEP sales

£167.1 m

£166.0 m

£198.9 m

Gross ISA sales

£746.5 m

£1,476.9 m

£903.2 m

Net PEP sales

£-182.3 m

£-134.7 m

£-230.8 m

Net ISA sales

£638.7 m

£1,392.6 m

£853.7 m

Total accounts

17.7 m

17.7 m

15.8 m

ISA accounts

6.764 m

6.616 m

4.289 m

PEP accounts

8.71 m

8.77 m

9.33 m

Number of funds

1,932

1,962

1,826

Number of companies

153

154

156

 

For further information please contact:

Anne McMeehan, Director of Communications, AUTIF, +44 (0)20 7831 0898
Dorian Carrell, Head of Statistics, AUTIF, +44 (0)20 7831 898
Clare Arber, PR Manager, AUTIF, +44 (0)20 7831 0898

Notes to Editors:

Best selling funds in May 2001

Net Retail Sales
UK All Companies
UK Other Bond		 Net Institutional Sales
 UK All Companies
North America

Worst selling funds in May 2001

Net Retail Sales
Japan
UK Smaller Companies

Net Institutional Sales
 Europe Excluding UK
Global Bonds

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

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© IMA 2002. Last Updated: 30 October 2006