Back to 2002 Press Release menu
Embargoed
until 12 noon: Monday 28 October 2002
INVESTMENT
FUND STATISTICS
September 2002
-
Investment
funds under management £189 billion
-
Gross
industry sales £3.6 billion (Sept 2001 £2.7 billion)
-
Gross
retail sales £1.86 billion (Sept 2001 £1.6 billion)
-
Gross
ISA sales £350 million (Sept 2001 £376 million)
Gross industry
sales rose to £3.6 billion in September from £3.4 billion
the previous month. Institutional
activity increased, with sales up 24% to £1.7 billion (£1.4
billion in August). Retail sales slowed overall to £1.86 billion, with
investment fund ISA sales dropping by 12% from the previous
month to £350 million. Repurchases
(as the result of money moving between sectors and people
cashing in) increased on the previous month but remain on a
par with levels seen earlier this year.
The net impact has been to reduce net industry sales to
£136 million from £615 million in August.
Retail
customers continued to be significant net investors in the UK
Corporate Bond and UK Equity Income sectors but September saw
a net outflow from the UK All Companies and Europe excluding
UK sectors. Intermediaries
accounted for two thirds of unit trust and OEIC sales, but
only one third of investment fund ISA sales.
Sales forces and tied agents are responsible for almost
half of all investment fund ISA sales.
Regular savings contributions continue to fall.
A total of £495 million was invested over the past
three months in just over 1.9 million plans, down 3% and 5%
respectively on the second quarter.
World
stockmarket indices fell by an average 11.7% in September,
whilst investment funds under management fell by 8.7% to £189
billion – a level that was last seen in February 1999, when
the value of investment funds rose to £190 billion.
Clare Arber,
Head of Communications, commented:
“It
looks as though investors are increasingly playing the waiting
game, preferring not to commit their savings to investment
funds whilst the stockmarket remains unsettled.
However, it is especially disappointing to see regular
savings plans falling out of favour.
In periods of uncertainty, saving on a monthly basis
can minimise the effects of market fluctuations and avoid
investing at possibly the wrong time.”
Regular
Savings Plans: Q3 2002 (1st July 2002 to 30th
September 2002)
|
|
Q1
1999
|
Q2
1999
|
Q3
1999
|
Q4
1999
|
Q1
2000
|
Q2
2000
|
Q3
2000
|
Q4
2000
|
|
PEP/ISA
|
1,759,588
|
1,342,113
|
1,165,696
|
1,340,003
|
1,408,040
|
1,508,137
|
1,593,089
|
1,657,533
|
|
Non
PEP/ISA
|
256,867
|
298,615
|
321,891
|
274,382
|
294,794
|
357,795
|
366,294
|
362,485
|
|
Total
|
2,016,455
|
1,640,728
|
1,487,587
|
1,614,385
|
1,702,834
|
1,865,932
|
1,959,383
|
2,020,018
|
|
|
Q1
2001
|
Q2
2001
|
Q3
2001
|
Q4
2001
|
Q1
2002
|
Q2
2002
|
Q3
2002
|
Q4
2002
|
|
PEP/ISA
|
1,711,011
|
1,761,793
|
1,736,393
|
1,656,675
|
1,658,301
|
1,657,803
|
1,577,452
|
|
| Non-PEP/ISA
|
319,893
|
319,365
|
311,045
|
331,663
|
337,605
|
357,019
|
338,673
|
|
|
Total
|
2,030,904
|
2,081,158
|
2,047,438
|
1,988,338
|
1,995,906
|
2,014,822
|
1,916,125
|
|
Sales: £mn
|
|
Q1
199
|
Q2
1999
|
Q3
1999
|
Q4
1999
|
Q1
2000
|
Q2
2000
|
Q3
2000
|
Q4
2000
|
|
PEP/ISA
|
£431.0m
|
£243.6m
|
£321.3m
|
£351.3m
|
£386.3m
|
£421.2m
|
£448.0m
|
£459.4m
|
|
Non-PEP/ISA
|
£84.3m
|
£70.6m
|
£60.4m
|
£54.8m
|
£60.1m
|
£79.5m
|
£68.1m
|
£99.4m
|
|
Total
|
£515.3m
|
£314.2m
|
£381.7m
|
£406.2m
|
£446.4m
|
£500.7m
|
£516.2m
|
£558.9m
|
|
|
Q1
2001
|
Q2
2001
|
Q3
2001
|
Q4
2001
|
Q1
2002
|
Q2
2002
|
Q3
2002
|
Q4
2002
|
|
PEP/ISA
|
£501.0m
|
£478.6m
|
£475.9m
|
£468.5m
|
£460.9m
|
£440.8m
|
£419.3
m
|
|
|
Non-PEP/ISA
|
£76.6m
|
£78.7m
|
£71.8m
|
£72.3m
|
£71.5m
|
£70.9m
|
£75.8
m
|
|
|
Total
|
£577.5m
|
£557.2m
|
£547.8m
|
£540.8m
|
£531.4m
|
£511.7m
|
£495.0
m
|
|
Note: Figures
represent totals for the quarter, not monthly totals within
the quarter.
Summary
table: September – Unit Trust, ISA and PEP data
|
|
Sep-02
|
Aug-02
|
Sep-01
|
|
Total funds under management
|
£189.2
bn
|
£207.3
bn
|
£213.3
bn
|
|
ISA funds
|
£21.4
bn
|
£23.1
bn
|
£19.0
bn
|
|
PEP funds
|
£35.3
bn
|
£38.4
bn
|
£44.2
bn
|
|
OEIC funds
|
£96.5
bn
|
£97.5
bn
|
£67.1
bn
|
|
Total gross sales
|
£3,569.3
m
|
£3,434.2
m
|
£2,730.8
m
|
|
Gross retail sales
|
£1,859.1
m
|
£2,059.2
m
|
£1,587.3
m
|
|
Gross ISA sales
|
£349.6
m
|
£398.7
m
|
£376.1
m
|
|
Gross PEP sales
|
£71.6
m
|
£82.3
m
|
£123.0
m
|
|
Gross institutional sales
|
£1,710.2
m
|
£1,375.0
m
|
£1,143.3
m
|
|
Total repurchases
|
£3,433.4
m
|
£2,818.9
m
|
£2,636.2
m
|
|
Retail repurchases
| |