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For Immediate Release:
Tuesday 30 September 2003
INVESTMENT FUND
STATISTICS
August 2003
-
Investment funds under management £ 227
billion
-
Gross industry sales £3.3 billion (August
2002 £3.4 billion)
-
Gross retail sales £2.2 billion (August 2002
£2.1 billion)
-
Gross ISA sales £386 million (August 2002
£399 million)
Investment funds under management grew
for the seventh consecutive month in August to £227 billion
from £222 billion in July, and were up 10% from the same month
the previous year.
Net retail sales in August were up on the
previous year for the third month running, to £766 million, an
increase of 39% over August 2002. Including institutional
sales, total net sales of £677 million were 8% up on a year
ago.
Gross ISA sales of £386.5 million,
although down on the previous month, were at a similar level
to August 2002 (£398.7 million). Net ISA sales however, were
12% lower than the previous year at £235 million.
The most popular sectors for August
continued to be UK All Companies and UK Corporate Bonds, which
accounted for 23% and 20% respectively of gross retail sales.
Net retail inflows to UK Corporate Bond funds were £253
million, around a third of total net retail sales.
Intermediaries continued to be the
predominant distributors of unit trusts and OEICs accounting
for 66% of gross retail sales, whilst the largest proportion
of ISA sales (53%) were through sales forces and tied agents.
Richard Saunders, Chief Executive of the
IMA commented:
“For the third successive
month net sales of unit trusts and OEICs are at higher
levels than 2002 and for the first time this year, gross
retail sales of UK All Companies surpassed UK Corporate
Bonds as the top selling sector. Taken together, these
encouraging signs suggest that investor confidence in the
equity market may be slowly returning.”
Summary table: August – Unit
Trust, ISA and PEP data
|
|
Aug-03 |
Jul-03 |
Aug-02 |
|
Total funds under management |
£227.3 bn |
£221.9 bn |
£207.4 bn |
|
ISA funds |
£28.7 bn |
£27.9 bn |
£23.1 bn |
|
PEP funds |
£37.2 bn |
£36.6 bn |
£38.4 bn |
|
OEIC funds |
£127.7 bn |
£125.7 bn |
£97.5 bn |
|
Total gross sales |
£3,306.6 m |
£4,378.2 m |
£3,445.2 m |
|
Gross retail sales |
£2,175.2 m |
£2,537.0 m |
£2,050.6 m |
|
Gross ISA sales |
£386.5 m |
£444.4 m |
£398.7 m |
|
Gross PEP sales |
£70.1 m |
£75.5 m |
£82.3 m |
|
Gross institutional sales |
£1,131.3 m |
£1,841.2 m |
£1,394.5 m |
|
Total repurchases |
£2,629.5 m |
£2,950.2 m |
£2,818.9 m |
|
Retail repurchases |
£1,409.5 m |
£1,669.9 m |
£1,501.8 m |
|
ISA repurchases |
£151.4 m |
£165.4 m |
£130.3 m |
|
PEP repurchases |
£203.2 m |
£229.1 m |
£220.0 m |
|
Institutional repurchases |
£1,220.0 m |
£1,280.3 m |
£1,317.1 m |
|
Total net sales |
£677.0 m |
£1,428.2 m |
£626.3 m |
|
Net retail sales |
£765.7 m |
£867.4 m |
£548.9 m |
|
Net ISA sales |
£235.1 m |
£279.1 m |
£268.4 m |
|
Net PEP sales |
-£133.0 m |
-£153.5 m |
-£137.8 m |
|
Net Institutional sales |
£-88.7 m |
£560.9 m |
£77.4 m |
|
Total accounts |
18.86 m |
18.68 m |
18.57 m |
|
ISA accounts |
8.10 m |
8.10 m |
7.84 m |
|
PEP accounts |
7.02 m |
7.06 m |
7.73 m |
|
Number of funds |
1,911 |
1,929 |
1,977 |
|
Number of companies |
129 |
130 |
131 |
|
Number of OEIC providers |
73 |
73 |
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
Richard Saunders, 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 August 2003
|
Net
Retail Sales
UK Corporate Bond
UK All Companies
|
Net
Institutional Sales
UK All Companies
UK Gilt
|
Worst selling
funds in August 2003
|
Net Retail Sales
UK Smaller Companies
Europe
Excluding UK
|
Net
Institutional Sales
UK Corporate Bond
Japanese Smaller Companies
|
Detailed
Monthly Sales Figures
-
ends -
|
