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Embargoed: 12.00 noon: Monday 24 September 2001

 

INVESTMENT FUND STATISTICS 

AUGUST 2001  

 

  • Investment funds under management - £239 billion

  • Gross industry sales down 22% to £3.6 billion (£4.6 billion – August 2000)

  • Gross retail sales down by 29% to £2 billion (£2.9 billion – August 2000)

  • Gross ISA sales down by 29% to £468 million (£660 million – August 2000)

AUTIF commented:

 “So far we are only in a position to relay anecdotal evidence from member companies for September business levels.  This indicates a significant downturn in volume of both sales and redemptions following the terrorist outrage in the financial quarter of New York on 11 September.”

The statistics to the end of August for both sales and funds under management in the UK investment fund industry reflect the continued downturn in equity markets. 

Fund inflows fell by 22% as total industry sales slowed to £3.6 billion in August.  Just over £2 billion were retail inflows, 12% down on July.  Retail repurchases remained steady at £1.8 billion (£1.8 billion in July 2001) with the majority arising from investments outside ISA wrappers.  Industry funds under management fell to £239 billion this August from a peak of £280 billion in August 2000.

ISA sales of £468 million in August are the lowest on record for a single month, with UK funds taking a large proportion of gross sales (see table below).  Income funds appear to be increasing in attractiveness relative to equity funds.  ISA funds under management stayed at £21 billion. 38% of ISAs were bought through sales forces and tied agents this month, whilst IFAs were responsible for 37% of sales and the ‘direct’ channel 24%. 

 

Proportion of ISA gross sales by top 8 sectors

August 2001

%

August 2000

%

UK All Companies

41

UK All Companies

36

UK Corporate Bond

9

Europe ex UK

15

UK Other Bond

9

Global Growth

9

Balanced Managed

8

UK Other Bond

7

Europe ex UK

8

Balanced Managed

6

UK Equity Income

7

UK Corporate Bond

5

Global Growth

6

UK Equity Income

4

UK Equity & Bond Income

3

Specialist

4


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

 

 

Aug-01

Jul-01

Aug-00

Total funds under management

£239.5 bn

£244.1 bn

£280.9 bn

ISA funds

£21.0 bn

£21.1 bn

£16.9 bn

PEP funds

£49.5 bn

£50.3 bn

£61.8 bn

OEIC funds

£75.1 bn

£75.4 bn

£61.5 bn


Total gross sales

£3,601.0 m

£4,596.6 m

£4,606.5 m

Gross retail sales

£2,022.5 m

£2,287.1 m

£2,850.1 m

Gross ISA sales

£467.8 m

£563.6 m

£659.7 m

Gross PEP sales

£141.4 m

£162.9 m

£190.0 m

Gross institutional sales

£1,578.5 m

£2,309.5 m

£1,756.4 m

Total repurchases

£2,793.5 m

£2,912.3 m

£3,094.7 m

Retail repurchases

£1,581.6 m

£1,773.0 m

£1,381.8 m

ISA repurchases

135.2 m

£125.6 m

£61.5 m

PEP repurchases

£399.5 m

£426.7 m

£483.5 m

Institutional repurchases

£1,211.9 m

£1,139.3 m

£1,712.8 m

Total net sales

£807.5 m

£1,684.3 m

£1,511.8 m

Net retail sales

£440.9 m

£514.1 m

£1,468.3 m

Net ISA sales

£332.5 m

£437.9 m

£598.2 m

Net PEP sales

£-258.1 m

£-263.9 m

£-293.5 m

Net Institutional sales

£366.6 m

£1,170.2 m

£43.5 m

Total accounts

17.8 m

17.7 m

16.3 m

ISA accounts

7.108 m

6.970 m

4.744 m

PEP accounts

8.57 m

8.62 m

9.25 m

Number of funds

1,960

1,936

1,880

Number of companies

150

151

157

Number of OEIC providers

53

53

45

For further information please contact:

Richard Saunders, Director General, AUTIF, +44 (0)20 7831 0898
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 August 2001

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

Worst selling funds in August 2001

Net Retail Sales
 Far East Excluding Japan
UK Equity & Bond Income

Net Institutional Sales
 UK Corporate Bond 
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