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Embargoed: 12.00 noon: Tuesday 28 August 2001

 

INVESTMENT FUND STATISTICS 

JULY 2001  

  • Investment funds under management - £246 billion

  • Gross industry sales up 2% to £4.6 billion (£4.5 billion – July 2000)

  • Gross retail sales down by 16% to £2.3 billion (£2.7 billion – July 2000)

  • Gross ISA sales down by 20% to £564 million (£703 million – July 2000)

Sales of unit trusts and OEICs reached £4.6 billion this July, a slight increase on last year’s
£4.5 billion.  Institutional players remain confident, with investments totalling £2.3 billion.  However, private investors appear increasingly reluctant to invest in the stockmarket, as retail sales continue downwards to £2.3 billion.  Industry funds under management fell to
£246 billion.

Gross sales of ISAs fell to £564 million.  IFAs were responsible for over 42% of ISA sales in July, with sales forces/tied agents accounting for 34% and the ‘direct’ channel, 23%.   ISA funds under management stand at £21 billion.  Just under seven million investment fund ISA accounts have been opened since they were introduced in April 1999.

Retail investors, who are not deterred by the current market volatility, favour the UK.  The proportion of gross sales in the UK All Companies sector rose by 5 percentage points to take 30% of all retail sales this month, compared to 25% in July last year.  Similarly, the Corporate Bond, Other Bond and Equity Income sectors each increased their share of sales by 3 points.  The Europe ex UK and Global Bonds sectors saw increases in their share of retail repurchases, by 5 points and 3 points respectively. 

Clare Arber, PR Manager at AUTIF, commented:

“Sales of investment funds tend to slow down over the summer months, but this year is quieter than usual.  It seems that private investors are increasingly unwilling to commit their cash to the stockmarket, whilst the short-term outlook for share-based investments remains uncertain.  But there are still a number of investors who regard the present conditions as a good long-term investment opportunity.”


Summary table: July – Unit Trust, ISA and PEP data

 

July 01

June 01

July 00

Total funds under management

£245.8 bn

£253.0 bn

£267.5 bn

ISA funds

£21.1 bn

£21.3 bn

£15.6 bn

PEP funds

£50.3 bn

£52.0 bn

£59.8 bn

OEIC funds

£75.4 bn

£76.0 bn

£57.8 bn

Total gross sales

£4,591.7 m

£4,845.5 m

£4,492.7 m

Gross retail sales

£2,283.3m

£2,500.9 m

£2,707.9 m

Gross ISA sales

£563.6 m

£571.7 m

£703.2 m

Gross PEP sales

£162.5 m

£209.2 m

£160.8 m

Gross institutional sales

£2,308.4 m

£2,344.6 m

£1,784.7 m

 

Total repurchases

£2,917.7 m

£6,621.2 m

£2,599.2 m

Retail repurchases

£1,778.5 m

£1,859.4 m

£1,473.6 m

ISA repurchases

£125.6 m

£108.3 m

£60.0 m

PEP repurchases

£426.7 m

£400.5 m

£455.0 m

Institutional repurchases

£1,139.3 m

£4,761.8 m

£1,125.7 m

Total net sales

£1,673.9 m

£-1775.7 m

£1,893.4 m

Net retail sales

£504.8 m

£641.4 m

£1,234.4 m

Net ISA sales

£437.9 m

£463.5 m

£643.2 m

Net PEP sales

£-264.2 m

£-191.3 m

£-294.1 m

Net Institutional sales

£1,169.1 m

£-2,417.1 m

£659.1 m

Total accounts

18.0 m

18.0 m

16.1 m

ISA accounts

6.970 m

6.883 m

4.661 m

PEP accounts

8.62 m

8.68 m

9.30 m

Number of funds

1,936

1,940

1,874

Number of companies

151

154

157

Number of OEIC providers

53

52

45

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 898

Notes to Editors:

Copies of all monthly sales statistics from December 1997 are available on the AUTIF website (www.investmentfunds.org.uk) under ‘Industry Data’.

Best selling funds in July 2001

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

Worst selling funds in July 2001

Net Retail Sales
 Japan
Global Bonds

Net Institutional Sales
 UK Smaller Companies 
North American Smaller Companies

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