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 Immediate Release:  Wednesday 26 February 2003

 

INVESTMENT FUND STATISTICS 

January 2003  

 

  • Investment funds under management £185 billion

  • Gross industry sales £3.4 billion  (Jan 2002 £3.5 billion)

  • Gross retail sales £1.9 billion  (Jan 2002 £2 billion)

  • Gross ISA sales £343 million  (Jan 2002 £380 million)

Total industry net sales were £392 million in January, compared to £584 million in December and £726 million in January 2002.   Net retail sales were £217 million, down from last month’s £269 million (January 2002 £610 million), whilst ISA net sales accounted for £157 million (£211 million in December 2002 and £276 million in January 2002).

The UK All Companies sector took the greater proportion of retail gross sales in January (£438 million), but it was closely followed by the UK Corporate Bond sector (£423 million). 

Top Selling Sectors – Retail Gross Sales

Jan 2003

%

Jan 2002

%

UK All Companies

23

UK All Companies

25

UK Corporate Bonds

22

UK Corporate Bonds

13

North America

9

North America

12

UK Equity Income

9

Europe ex UK

10

UK Other Bond

5

UK Equity Income

8

Global Growth

5

UK Other Bond

6

Europe ex UK

4

Global Growth

3

Far East ex Japan

4

Far East ex Japan

3

 

The intermediary channel was responsible for almost two thirds of UK All Companies fund sales, whilst over 60% of all corporate bond fund sales were made through the sales force/tied agents channel. 

Clare Arber, Head of Communications at the IMA, commented:

“Despite the worst markets in a generation, net investment by private investors continues to be positive. But with no sign of good news on the horizon, sales are running at significantly lower levels than in recent years.

“But investors mustn’t let current conditions cloud their judgement. While acknowledging that returns are likely to be lower than in the late ‘90s, we all have to save for the future. It’s crucial that investors have in place an investment plan that suits their needs for the long term.”

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

 

Jan-03

Dec-02

Jan-02

Total funds under management

£184.2 bn

£194.7 bn

£233.4 bn

ISA funds

£22.14 bn

£22.7 bn

£21.6 bn

PEP funds

£32.8 bn

£35.2 bn

£45.7 bn

OEIC funds

£101.1 bn

£104.1 bn

£84.7 bn

Total gross sales

£3,420.6 m

£3,303.0 m

£3,470.0 m

Gross retail sales

£1,929.8 m

£1,678.4 m

£2,000.1 m

Gross ISA sales

£343.4 m

£326.5 m

£380.1 m

Gross PEP sales

£77.3 m

£66.6 m

£84.3 m

Gross institutional sales

£1,490.8 m

£1,624.6 m

£1,469.8 m

Total repurchases

£3,028.2 m

£2,718.6 m

£2,744.3 m

Retail repurchases

£1,712.7 m

£1,409.1 m

£1,390.5 m

ISA repurchases

£186.6 m

£115.1 m

£104.5 m

PEP repurchases

£310.8 m

£214.7 m

£254.0 m

Institutional repurchases

£1,315.5 m

£1,309.5 m

£1,353.7 m

Total net sales

£392.4 m

£584.4 m

£725.7 m

Net retail sales

£217.1 m

£269.3 m

£609.6 m

Net ISA sales

£156.8 m

£211.3 m

£275.6 m

Net PEP sales

£-233.5 m

£-148.1 m

£-169.7 m

Net Institutional sales

£175.3 m

£315.0 m

£116.1 m

Total accounts

18.70 m

18.89 m

18.08 m

ISA accounts

7.91 m

7.80 m

7.28 m

PEP accounts

7.35 m

7.51 m

8.12 m

Number of funds

1,951

1,957

1,949

Number of companies

129

130

138

Number of OEIC providers

72

71

63

 

For further information please contact:

Dick Saunders, Chief Executive, IMA, +44 (0)20 7831 0898
Clare Arber, Head of Communications, IMA, +44 (0)20 7831 0898
Dorian Carrell, Head of Statistics, IMA, +44 (0)20 7831 0898


Notes to Editors:

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

Best selling funds in January 2003

Net Retail Sales
UK Corporate Bond                 

UK Equity Income                 

Net Institutional Sales
UK All Companies

North America

Worst selling funds in January 2003

Net Retail Sales
Europe Excluding UK
UK Equity & Bond Income 

Net Institutional Sales
Far East Excluding Japan

UK Smaller Companies

 

 

 

Detailed Monthly Sales Figures

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© IMA 2002. Last Updated: 02 November 2006