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Embargoed until 12
noon: Tuesday 27 May 2003
INVESTMENT FUND
STATISTICS
April
2003
-
Investment Funds Under Management £201
billion
-
Gross Industry Sales £4.6 billion (April
2002 £5.3 billion)
-
Gross Retail Sales £2.6 billion (April 2002
£3.2 billion)
-
Gross ISA sales £813 million (April 2002 £1.3
billion)
Gross industry sales of investment funds
rose to £4.6 billion in April, whilst net sales reached £1.75
billion, their highest level since June 2001.
Retail sales of £2.6 billion (gross) and £1 billion
(net) increased on March but were still down on April 2002.
Investment funds under management passed the £200
billion mark for the first time since November 2002.
Gross sales of investment fund ISAs rose
to £813 million from £576 million in March.
Net sales of £681 million were up on the £410 million
in March, but still 41% down on April 2002’s figure of £1.2
billion. It
should be noted that at least £215 million of the £813
million gross sales came in the first five days of April,
marking the end of the tax-year “ISA season”.
The
trend towards a growing proportion of ‘direct’ ISA sales
continued in April, with over a quarter (25%) of sales being
made without advice. Sales forces and tied agents accounted for 48% of sales while
intermediaries were responsible for 26%.
However, the intermediary channel still accounts for
the majority (62%) of all retail fund sales overall.
Almost half of total retail investment is concentrated
in two sectors: the UK Corporate Bond Sector (26%) remains the
most popular, followed by the UK All Companies Sector (20%).
Fund supermarket sales were also up in
April, accounting for an estimated £149 million (gross) and
£141 million (net) of ISA sales – up from £95 million and
£86 million in March.
Clare Arber, Head of Communications at
the IMA, said:
“April’s
figures show an encouraging upturn, reflecting the
traditional end of tax-year ISA season.
Over one billion pounds has been invested, with
corporate bond funds being favoured overall. While investors continue to be cautious, there clearly
remains an appetite among them to put new money into
investment funds.”
Summary table: April – Unit
Trust, ISA and PEP data
|
|
Apr-03
|
Mar-03
|
Apr-02
|
|
Total funds under management
|
£200.9
bn
|
£187.6
bn
|
£239.7
bn
|
|
ISA funds
|
£25.1 bn
|
£23.0
bn
|
£25.4
bn
|
|
PEP funds
|
£34.4
bn
|
£32.6
bn
|
£45.9
bn
|
|
OEIC funds
|
£113.1
bn
|
£105.3
bn
|
£97.4
bn
|
|
Total gross sales
|
£4,602.0
m
|
£3,953.6
m
|
£5,320.3
m
|
|
Gross retail sales
|
£2,593.8
m
|
£2,398.7
m
|
£3,244.0
m
|
|
Gross ISA sales
|
£813.0
m
|
£575.5
m
|
£1,331.5
m
|
|
Gross PEP sales
|
£51.2
m
|
£71.0
m
|
£123.2
m
|
|
Gross institutional sales
|
£2,008.2
m
|
£1,554.9
m
|
£2,076.3
m
|
|
Total repurchases
|
£2,849.7
m
|
£3,440.4
m
|
£4,105.4
m
|
|
Retail repurchases
|
£1,546.1
m
|
£1,658.8
m
|
£1,878.3
m
|
|
ISA repurchases
|
£131.8
m
|
£165.0
m
|
£181.0
m
|
|
PEP repurchases
|
£189.9
m
|
£270.8
m
|
£394.8
m
|
|
Institutional repurchases
|
£1,303.6
m
|
£1,781.6
m
|
£2,227.0
m
|
|
Total net sales
|
£1,752.3
m
|
£513.2
m
|
£1,214.9
m
|
|
Net retail sales
|
£1,047.7
m
|
£739.9
m
|
£1,365.7
m
|
|
Net ISA sales
|
£681.2
m
|
£410.5
m
|
£1,150.6
m
|
|
Net PEP sales
|
£-138.7
m
|
£-199.7
m
|
£-271.5
m
|
|
Net Institutional sales
|
£704.6
m
|
£-226.7
m
|
£-150.8
m
|
|
Total accounts
|
18.68
m
|
18.61
m
|
18.51
m
|
|
ISA accounts
|
8.06
m
|
7.93
m
|
7.66
m
|
|
PEP accounts
|
7.19
m
|
7.23
m
|
7.97
m
|
|
Number of funds
|
1,972
|
1,959
|
1,989
|
|
Number of companies
|
129
|
129
|
138
|
|
Number of OEIC providers
|
71
|
71
|
65
|
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 April 2003
|
Net
Retail Sales
UK Corporate Bond
UK Equity Income
|
Net
Institutional Sales
Global Bonds
Global Growth
|
Worst selling
funds in April 2003
|
Net Retail Sales
Europe Excluding UK
Japan
|
Net
Institutional Sales
Far East Excluding Japan
Japan
|
Detailed
Monthly Sales Figures
-
ends -
|
