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For Immediate Release:
Monday 29 March 2004
INVESTMENT FUND STATISTICS
February 2004
-
Investment funds under management £246
billion
-
Gross industry sales £3.8 billion (February
2003 £3.2 billion)
-
Gross retail sales £2.5 billion (February
2003 £1.7 billion)
-
Gross ISA sales £432 million (February 2003
£378 million)
Investment funds under management in
February continued to grow for the fifth consecutive month to
£246 billion, up 1% on the previous month and 32% on the year.
ISA funds under management also continued to grow and saw a 3%
increase from January and a 44% growth from February 2003.
A net institutional outflow of £1.9
billion in February mainly reflected one large institutional
transaction. Net retail sales grew 42% from January and were
more than three times the sales of February 2003. Net ISA
sales also rose 14% from January to £210 million, a 9%
increase on last year.
Sales of UK equities continued to thrive
in February with the most popular sector, UK All Companies
accounting for 25% of total gross retail sales, the highest
level since April 2002. This was followed by UK Corporate
Bonds with 12% and UK Equity Income accounting for 11% of
sales.
The most popular distribution channel in
February continued to be intermediaries for 69% of investment
fund sales, whilst ISA sales continued to be dominated by the
sales force/tied agent channel, with 40% of retail gross ISA
sales.
Richard Saunders, Chief Executive of the
IMA commented:
“Investment fund sales
continue to show encouraging progress since last year’s low
point. With net inflows across all asset classes,
investors’ confidence appears to be slowly returning. ”
Summary table: February 2004 – Unit trust/OEIC, ISA and
PEP data
|
|
Feb-04 |
|
Jan-04 |
|
Feb-03 |
|
|
Total
funds under management |
£246.1 |
bn |
£243.5 |
bn |
£186.2 |
bn |
|
ISA
funds |
£32.1 |
bn |
£31.3 |
bn |
£22.4 |
bn |
|
PEP
funds |
£38.2 |
bn |
£37.6 |
bn |
£32.6 |
bn |
|
OEIC
funds |
£154.3 |
bn |
£151.5 |
bn |
£103.6 |
bn |
|
Total
gross sales |
£3,789.1 |
m |
£4,397.7 |
m |
£3,244.2 |
m |
|
Gross
retail sales |
£2,502.3 |
m |
£2,262.0 |
m |
£1,732.6 |
m |
|
Gross
ISA sales |
£431.8 |
m |
£386.2 |
m |
£378.0 |
m |
|
Gross
PEP sales |
£79.8 |
m |
£68.2 |
m |
£91.9 |
m |
|
Gross
institutional sales |
£1,286.8 |
m |
£2,135.7 |
m |
£1,511.6 |
m |
|
Total
repurchases |
£4,950.9 |
m |
£3,902.5 |
m |
£2,694.5 |
m |
|
Retail repurchases |
£1,785.5 |
m |
£1,756.9 |
m |
£1,504.6 |
m |
|
ISA
repurchases |
£222.3 |
m |
£202.7 |
m |
£185.4 |
m |
|
PEP
repurchases |
£279.2 |
m |
£236.3 |
m |
£326.8 |
m |
|
Institutional repurchases |
£3,165.4 |
m |
£2,145.7 |
m |
£1,189.9 |
m |
|
Total
net sales |
-£1,161.8 |
m |
£495.1 |
m |
£549.7 |
m |
|
Net
retail sales |
£716.7 |
m |
£505.1 |
m |
£228.0 |
m |
|
Net
ISA sales |
£209.5 |
m |
£183.5 |
m |
£192.6 |
m |
|
Net
PEP sales |
-£199.4 |
m |
-£168.1 |
m |
-£234.9 |
m |
|
Net
Institutional sales |
-£1,878.5 |
m |
-£10.0 |
m |
£321.7 |
m |
|
Total
accounts |
19.28 |
m |
19.30 |
m |
18.63 |
m |
|
ISA
accounts |
8.23 |
m |
8.17 |
m |
7.90 |
m |
|
PEP
accounts |
6.65 |
m |
6.65 |
m |
7.27 |
m |
|
Number of funds |
1,920 |
|
1,927 |
|
1,971 |
|
|
Number of companies |
127 |
|
129 |
|
129 |
|
|
Number of OEIC providers |
73 |
|
73 |
|
71 |
|
|
|
|
|
|
|
|
|
Best selling funds in February 2004
|
Net
Retail Sales
UK All Companies
UK Corporate Bond
|
Net
Institutional Sales
UK Gilt
UK Equity
Income
|
Worst selling funds in February 2004
|
Net
Retail Sales
UK Smaller Companies
UK Equity
and Bond Income
|
Net
Institutional Sales
Global
Growth
Global Bonds
|
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
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
-
ends -
|
