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to 2003 Press Release menu
Embargoed until 12
noon: Tuesday 1 April 2003
INVESTMENT FUND
STATISTICS
February
2003
-
Investment funds under management £188
billion
-
Gross industry sales £3.2 billion
(Feb 2002 £3.7 billion)
-
Gross retail sales £1.7 billion
(Feb 2002 £2.3 billion)
-
Gross ISA sales £378 million
(Feb 2002 £450 million)
Total industry net sales rose to £507
million in February, up from £394 million in January but
still down from £1,090 million in February 2002.
Retail net sales were down to £194 million
(February 2002 £670 million).
ISA net sales increased to £193 million (from £158
million in January 2003), but were still down on February
2002’s £319 million.
February
sees little change in sector popularity.
Corporate bond funds still attract the greater part
of February retail investment (£491 million). Although
intermediaries consistently account for the majority of
all investment fund sales (58% in February), their share
of ISA sales dropped this month to 26% (28% in January).
Sales forces/tied agents were responsible for 50%
of ISA sales and 26% overall, whilst the ‘direct’
channel accounted for 18% of ISA sales and 11% of all
retail fund sales.
|
Top
Selling Sectors Feb 2003 – Retail Gross Sales
|
|
ISAs
|
%
|
Retail
Funds |
%
|
|
UK Corporate Bond
|
35 |
|
28 |
|
UK All Companies
|
31 |
UK All Companies
|
20 |
|
UK Equity Income
|
6 |
UK Equity Income
|
11 |
|
UK Other Bond
|
5 |
North America
|
6 |
|
Europe ex UK
|
4 |
UK Other Bond
|
5 |
|
Global Growth
|
4 |
Europe ex UK
|
4 |
|
Balanced Managed
|
4 |
Global Growth
|
4 |
|
North America
|
2 |
UK Money Market
|
2 |
Clare Arber, Head of Communications
at the IMA, commented:
“Investors
remain wary and sales continue to run at significantly
lower levels than in recent years.
“It
is too soon to predict how this year’s ISA season will
turn out, but these sales figures reinforce our message
to the Government - that now is exactly the wrong time
to take away the tax credit on the Equity ISA.
Summary table: February – Unit
Trust, ISA and PEP data
|
|
Feb-03
|
Jan-03
|
Feb-02
|
|
Total funds under management
|
£187.7 bn
|
£184.1
bn
|
£233.4
bn
|
|
ISA funds
|
£22.4
bn
|
£22.1
bn
|
£21.6
bn
|
|
PEP funds
|
£33.1
bn
|
£32.8
bn
|
£45.3
bn
|
|
OEIC funds
|
£103.6
bn
|
£101.1
bn
|
£87.6
bn
|
|
Total gross sales
|
£3,233.3
m
|
£3,423.7
m
|
£3,715.2
m
|
|
Gross retail sales
|
£1,726.7
m
|
£1,934.4
m
|
£2,277.3
m
|
|
Gross ISA sales
|
£378.0
m
|
£345.9
m
|
£449.9
m
|
|
Gross PEP sales
|
£91.4
m
|
£77.0
m
|
£88.6
m
|
|
Gross institutional sales
|
£1,506.6
m
|
£1,489.3
m
|
£1,438.0
m
|
|
Total repurchases
|
£2,726.1
m
|
£3,030.1
m
|
£2,625.5
m
|
|
Retail repurchases
|
£1,532.7
m
|
£1,711.9
m
|
£1,607.6
m
|
|
ISA repurchases
|
£185.4
m
|
£189.6
m
|
£130.5
m
|
|
PEP repurchases
|
£328.5
m
|
£311.1
m
|
£335.6
m
|
|
Institutional repurchases
|
£1,193.3
m
|
£1,318.2
m
|
£1,017.9
m
|
|
Total net sales
|
£507.2
m
|
£393.6
m
|
£1,089.7
m
|
|
Net retail sales
|
£193.9
m
|
£222.5
m
|
£669.7
m
|
|
Net ISA sales
|
£192.6
m
|
£158.3
m
|
£319.4
m
|
|
Net PEP sales
|
£-237.1
m
|
£-233.8
m
|
£-247.0
m
|
|
Net Institutional sales
|
£313.3
m
|
£171.1
m
|
£420.1
m
|
|
Total accounts
|
18.98
m
|
18.70
m
|
18.30
m
|
|
ISA accounts
|
7.90
m
|
7.91
m
|
7.32
m
|
|
PEP accounts
|
7.34
m
|
7.35
m
|
8.09
m
|
|
Number of funds
|
1,971
|
1,951
|
1,978
|
|
Number of companies
|
129
|
129
|
139
|
|
Number of OEIC providers
|
71
|
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 February 2003
|
Net
Retail Sales
UK
Corporate Bond
UK
Equity Income |
Net
Institutional Sales
UK Gilt
Global
Growth
|
Worst selling
funds in February 2003
|
Net Retail Sales
Europe Excluding UK
North
America
|
Net
Institutional Sales
UK
Corporate Bonds
UK
Smaller Companies
|
Detailed
Monthly Sales Figures
-
ends -
|
