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 Embargoed until 12 noon:  Tuesday 26 August 2003

 

INVESTMENT FUND STATISTICS 

July 2003  

 

  • Investment Funds Under Management £222 billion

  • Gross Industry Sales £4.4 billion (July 2002 £4.1 billion)

  • Gross Retail Sales £2.5 billion (July 2002 £2.3 billion)

  • Gross ISA Sales £444 million (July 2002 £465 million)

 

Investment funds under management of £221.8 billion in July were at the highest level since June 2002 (£222.3 billion) representing an increase of 8% on the previous year. ISA funds under management continued to rise steadily and are up 23% on July 2002.

Total gross sales of £4.4 billion were up on the previous month (£4.2 billion in June) whilst net sales were flat at £1.4 billion from June and were up 50% on July 2002.

Gross retail sales of £2.5 billion, rose from £2.4 billion in June. Net retail sales however, were marginally down on the previous month to £863 million (£870 million in June) but increased by over 50% from the same month in 2002. Gross ISA sales of £444 million increased from £435 million in June but were down less than 5% on the previous year.

With two thirds of gross retail sales, more funds were sold through intermediaries than any other channel. However, sales force/tied agents remained the most popular distributors of unit trust ISAs accounting for 55% of sales.

The top selling retail sectors for July were UK Corporate Bonds and UK All Companies accounting for 24% and 18% respectively of total gross retail sales.

Sheila Nicoll, Deputy Chief Executive of the IMA commented:

“The past months show indications of an upturn with sales of unit trusts and OEICs up on last year and funds under management at their highest level since June 2002. For the moment, investor confidence appears to be rising as more retail money enters the market.”

 

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

 

Jul-03

Jun-03

Jul-02

Total funds under management

£221.8 bn

£214.6 bn

£205.0 bn

ISA funds

£27.9 bn

£27.1 bn

£22.6 bn

PEP funds

£36.6 bn

£36.1 bn

£38.1 bn

OEIC funds

£125.7 bn

£121.1 bn

£93.6 bn

Total gross sales

£4,374.1 m

£4,207.7 m

£4,146.4 m

Gross retail sales

£2,532.9 m

£2,405.7 m

£2,301.2 m

Gross ISA sales

£444.4 m

£434.6 m

£465.3 m

Gross PEP sales

£75.5 m

£61.2 m

£150.2 m

Gross institutional sales

£1,841.2 m

£1,802.0 m

£1,845.2 m

Total repurchases

£2,950.2 m

£2,797.1 m

£3,196.4 m

Retail repurchases

£1,669.9 m

£1,535.8 m

£1,733.9 m

ISA repurchases

£165.4 m

£141.0 m

£180.9 m

PEP repurchases

£229.1 m

£198.4 m

£305.5 m

Institutional repurchases

£1,280.3 m

£1,261.3 m

£1,462.5 m

Total net sales

£1,423.9 m

£1,410.6 m

£950.0 m

Net retail sales

£863.0 m

£869.9 m

£567.2 m

Net ISA sales

£279.1 m

£293.6 m

£284.4 m

Net PEP sales

-£153.5 m

-£137.1 m

-£155.3 m

Net Institutional sales

£560.9 m

£540.7 m

£382.7 m

Total accounts

18.72 m

18.72 m

18.62 m

ISA accounts

8.10 m

8.11 m

7.81 m

PEP accounts

7.06 m

7.10 m

7.75 m

Number of funds

1,929

1,942

1,976

Number of companies

130

130

131

Number of OEIC providers

73

72

69

 

For further information please contact:

Helen Stephenson, Communications Officer, IMA, +44 (0)20 7831 0898
Dorian Carrell, Head of Statistics, IMA, +44 (0)20 7831 0898
Sheila Nicoll, Deputy Chief Executive, 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 July 2003

Net Retail Sales
UK Corporate Bond
UK Equity Income                                     

Net Institutional Sales

Global Growth

UK All Companies

Worst selling funds in July 2003

Net Retail Sales
 Europe Excluding UK

UK Money Market

Net Institutional Sales

Europe Excluding UK

UK Smaller Companies

 

 

Detailed Monthly Sales Figures

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© IMA 2002. Last Updated: 02 November 2006