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 For Immediate Release:  Monday 30 June 2003

 

INVESTMENT FUND STATISTICS 

May 2003  

 

  • Investment Funds Under Management £210 billion

  • Gross Industry Sales £3.4 billion (May 2002 £4.3 billion)

  • Gross Retail Sales £2.2 billion (May 2002 £2.7 billion)

  • Gross ISA sales £511 million (May 2002 £635 million)

Investment funds under management in May increased to £210 billion, the highest level since June 2002. Net industry sales were £860 million, compared with £1 billion in May 2002. Net retail sales were £742 million, down 11% on last May while net ISA sales of £357 million fell 22% from the previous year. At £26.5 billion, ISA funds under management now stand at their highest level since their introduction in 1999.

Gross industry sales in May of £3.4 billion were down £850 million from May 2002. Gross retail sales were £2.2 billion, down 18% from the previous year.

Continuing the trend seen in previous months, the most popular retail sectors in May 2003 were UK Corporate Bonds, with sales of £593 million, and UK All Companies, £442 million, accounting for 27% and 20% respectively of total gross retail sales.

Intermediaries continued to be the most popular distribution channel for retail gross sales in May with 63% of sales coming via this channel. 

Richard Saunders, Chief Executive of the IMA commented: 

“With the recent recovery in the market, total ISA funds under management have reached an all time high.  May’s figures continue the trend of recent months, with net sales running behind this time last year, but by much less than was the case in January this year. Corporate bond funds continue to be the most popular with retail investors, as they have been for the last year.”

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

 

May-03

Apr-03

May-02

Total funds under management

£210.5 bn

£201.3 bn

£240.2 bn

ISA funds

£26.6 bn

£25.1 bn

£25.9 bn

PEP funds

£35.7 bn

£34.4 bn

£45.5 bn

OEIC funds

£118.8 bn

£113.1 bn

£98.0 bn

Total gross sales

£3,428.7 m

£4,604.2 m

£4,278.3 m

Gross retail sales

£2,226.9 m

£2,596.0 m

£2,726.1 m

Gross ISA sales

£510.7 m

£813.0 m

£634.5 m

Gross PEP sales

£95.4 m

£51.2 m

£164.1 m

Gross institutional sales

£1,201.9 m

£2,008.2 m

£1,552.2 m

Total repurchases

£2,568.7 m

£2,851.1 m

£3,245.0 m

Retail repurchases

£1,484.6 m

£1,547.8 m

£1,891.7 m

ISA repurchases

£153.8 m

£131.8 m

£175.1 m

PEP repurchases

£203.2 m

£189.8 m

£383.2 m

Institutional repurchases

£1,084.1 m

£1,303.3 m

£1,353.3 m

Total net sales

£860.1 m

£1,753.1 m

£1,033.3 m

Net retail sales

£742.2 m

£1,048.2 m

£834.3m

Net ISA sales

£356.9 m

£681.2 m

£459.4 m

Net PEP sales

-£107.8 m

£-138.7 m

£-219.1 m

Net Institutional sales

£117.8 m

£704.9 m

£198.9 m

Total accounts

18.72 m

18.74 m

18.64 m

ISA accounts

8.10 m

8.06 m

7.77 m

PEP accounts

7.14 m

7.19 m

7.95 m

Number of funds

1,948

1,972

1,972

Number of companies

130

129

134

Number of OEIC providers

72

71

68

 

 

 

 

 

For further information please contact:

Richard Saunders, Chief Executive, IMA, +44 (0)20 7831 0898
Helen Stephenson, Communications Officer, 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 May 2003

Net Retail Sales
UK Corporate Bond

UK Equity Income

Net Institutional Sales
UK All Companies

UK Corporate Bond

Worst selling funds in May 2003

Net Retail Sales
Europe Excluding UK
Global Growth

Net Institutional Sales
Europe Excluding UK

Global Growth

 

 

Detailed Monthly Sales Figures

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© IMA 2002. Last Updated: 02 November 2006