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 For Immediate Release:  Monday 23 February 2004

INVESTMENT FUND STATISTICS 

 January 2004

• Investment funds under management £243 billion

• Gross industry sales £4.4 billion (January 2003 £3.5 billion)

• Gross retail sales £2.3 billion (January 2003 £2.0 billion)

• Gross ISA sales £386 million (January 2003 £346 million)

January saw investment funds under management increase to £243 billion from £241 billion in December and by 32% from the same month the previous year, thanks in the main to the growth of equity markets through 2003. ISA funds under management also continued to grow to £31 billion, up 42% from January 2003.

Net retail sales in January of £505 million, whilst down from the previous month, were more than double the £249 million in January 2003. Net ISA sales were also down on December’s figures, but were up 17% on the previous year.

The most popular sector in January continued to be UK All Companies, accounting for 21% of gross retail sales, followed by UK Corporate Bonds representing 12% of sales.  In terms of net retail sales, the two leading sectors were UK All Companies and UK Equity Income.

Distribution of investment funds to retail investors continued to be predominantly through intermediaries, accounting for 70% of gross retail sales, whilst ISAs were largely sold through sales forces/tied agents (46%). Sales forces/tied agents were the biggest sellers of UK Corporate Bonds in January, accounting for 51% of gross retail investment into the sector. 

Richard Saunders, Chief Executive of the IMA commented:

“Retail investment continues to run ahead of last year and investors have clearly regained some appetite for equities. While it is likely to be some time before confidence is fully recovered, the picture does appear to be one of steady improvement.”

Summary table: January 2004 – Unit Trust/OEIC, ISA and PEP data

Best selling funds in January 2004

Worst selling funds in January 2004

For further information please contact:

Helen Stephenson, Communications Officer, IMA, +44 (0)20 7831 0898
Richard Saunders, Chief Executive, IMA, +44 (0)20 7831 0898
Georgina Bound, Research Assistant, IMA, +44 (0)20 7831 0898
 

Out Of hours contact:

Mona Patel, Head of Communications, IMA, 07834 089332

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).

Detailed Monthly Sales Figures

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