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Embargoed until 12 noon: Tuesday 27 August 2002

 

 INVESTMENT FUND STATISTICS
July 2002

• Investment funds under management £205 billion

• Gross industry sales £4.1 billion (July 2001 £4.6 billion)

• Gross retail sales £2.33 billion (July 2001 £2.29 billion)

•  Gross ISA sales £465 million (July 2001 £567million)

Gross sales of investment funds were up 7% in July to £4.1 billion from £3.8 billion in the previous month. Gross retail sales increased to £2.3 billion from £2.1 billion in June of which 67% were distributed through Intermediaries. Net sales were up 46% in July to £806 million from £550 million. Although net retail sales of £594 million were down on the previous month, they were 13% higher than July 2001.

July saw an 8% increase in gross ISA sales to £464.7 million from £428.8 million in June. ISA repurchases increased by 41% to £181 million from £129 million in the previous month and are comparable with those made in April 2002. The repurchase figure reflects not only those people who are cashing in, but also includes the effect of money moving between sectors. Sales force / tied agents accounted for 44% of ISA sales in July whilst Intermediaries were responsible for 32% and direct sales accounted for 22%.

After the UK All Companies sector, UK Corporate Bond was the most popular sector for July accounting for 14% (£320 million) of gross retail investment. The UK Other Bond sector however, saw its share of retail investment halve on the same period last year to 4%.

Clare Arber, Head of Communications, commented:

“Despite continued stock market volatility, investors have maintained their activity.  In part this may be the result of reorganising investment portfolios to ensure that they still achieve the appropriate balance in the current economic conditions.  They also appear to be less inclined to make their own investment decisions.  Over 90% of all retail sales were made with some form of advice. Direct sales, although only marginally down, are at their lowest level since July 2001. As the stockmarket continues to be unpredictable, investors are looking for help and guidance.”

 

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

	July 02	June 02	July 01
Total funds under management	£204.9 bn	£222.3 bn	£244.1 bn
ISA funds	£22.6 bn	£24.4 bn	£21.0 bn
PEP funds	£38.0 bn	£42.3 bn	£50.3 bn
OEIC funds	£93.6 bn	£92.8 bn	£75.3 bn
Total gross sales	£4,108.4 m	£3,804.0 m	£4,607.9 m
Gross retail sales	£2,337.8 m	£2,311.7 m	£2,298.6 m
Gross ISA sales	£464.7 m	£428.8 m	£563.6 m
Gross PEP sales Gross institutional sales	£150.7 m £1770.6 m	£111.4 m £1528.3 m	£164.0 m £2,309.3 m
Total repurchases	£3,302.2 m	£3,289.9 m	£2,912.3 m
Retail repurchases	£1,743.5 m	£1,697.8 m	£1,773.0 m
ISA repurchases	£180.9 m	£128.5 m	£125.6 m
PEP repurchases	£307.2 m	£271.8 m	£426.7 m
Institutional repurchases	£1558.7 m	£1593.0 m	£1,139.3 m
Total net sales	£806.3 m	£550.1 m	£1,695.6 m
Net retail sales	£594.4 m	£614.8 m	£526.5 m
Net ISA sales	£283.8 m	£300.3 m	£437.9m
Net PEP sales	£-157.1 m	£-160.4 m	£-262.7 m
Net institutional sales	£211.9 m	£-64.7 m	£1,170.0 m
Total accounts	18.62 m	18.65 m	17.71 m
ISA accounts	7.809 m	7.771 m	6.969 m
PEP accounts	7.75 m	7.94 m	8.62 m
Number of funds	1,976	1,952	1,936
Number of companies	131	132	151
Number of OEIC providers	69	68	53

 

For further information please contact:

Dick Saunders, Chief Executive,  IMA, 020 7831 0898

Dorian Carrell,  Head of Statistics,  IMA, 020 7831 0898

Clare Arber,  Head of Communications,  IMA, 020 7831 0898

Notes to Editors:

Copies of all monthly sales statistics from December 1997 are available on the IMA Website (http://www.investmentuk.org/statistics/fund_statistics/default.asp)

Best selling funds in July

Worst selling funds in July

Detailed Monthly Sales Figures

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