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 For Immediate Release:  Monday 26 July 2004

 

INVESTMENT FUND STATISTICS 

June 2004

 

  • Investment funds under management £250 billion

  • Gross industry sales £4.3 billion (June 2003 £4.2 billion)

  • Gross retail sales £2.3 billion (June 2003 £2.4 billion)

  • Gross ISA sales £421 million (June 2003 £435 million)

June saw investment funds under management reach £250 billion, an increase of 2% from May and 17% on the year. ISA funds under management also continued to grow in June to £34 billion, a 25% increase from June 2003.

Total net sales fell 19% in June to £855 million and by 39% from the previous year. Net retail sales of £159 million were a long way behind the £870 million of June 2003, though up on May’s £92 million.

Net ISA sales continued to fall in June to £123 million, a decrease of 26% on the month and 58% on the year.

The most popular sectors in June were UK All Companies accounting for 19% of gross retail sales followed by UK Corporate Bonds (13%) and UK Equity Income (13%). There were, however, even more redemptions in the UK All Companies sector, giving a net outflow of £125 million for the sector.

Intermediaries were responsible for 69% of gross retail sales and as in previous months sales force/tied agents continued to sell the largest proportion of investment fund ISAs (46%).

Second quarter net retail sales of £1 billion were just over half those seen in the first three months of the year, and 60% less than the second quarter of 2003. Net ISA sales were marginally down on the quarter (1%) and were down a third from the previous year.

The second quarter of the year saw the total number of regular savings plans fall to £1.60 million from £1.63 million in the first quarter. ISA savings plans also fell to £1.3 million from £1.4 million in quarter one and from £1.5 million the previous year.

Richard Saunders, Chief Executive of IMA commented:

“The last two months have seen the lowest net retail sales in 18 months. Particularly notable was a significant outflow from the UK All Companies sector in May and June, reversing the trend of the previous year or so.”

 

Summary table: June 2004 – Unit trust/OEIC, ISA and PEP data

 

 

Jun-04

 

May-04

 

Jun-03

 

Total funds under management

£249.6

bn

£243.6

bn

£214.1

bn

ISA funds

£33.9

bn

£33.1

bn

£27.1

bn

PEP funds

£37.1

bn

£36.6

bn

£36.1

bn

OEIC funds

£158.4

bn

£158.2

bn

£121.1

bn

Total gross sales

£4,302.9

m

£4,305.4

m

£4,207.8

m

Gross retail sales

£2,281.3

m

£2,254.1

m

£2,405.8

m

Gross ISA sales

£421.0

m

£435.9

m

£434.6

m

Gross PEP sales

£78.0

m

£94.7

m

£61.3

m

Gross institutional sales

£2,021.6

m

£2,051.3

m

£1,802.0

m

Total repurchases

£3,447.6

m

£3,253.6

m

£2,796.7

m

Retail repurchases

£2,122.3

m

£2,161.7

m

£1,535.4

m

ISA repurchases

£297.8

m

£269.2

m

£141.0

m

PEP repurchases

£340.4

m

£311.9

m

£198.4

m

Institutional repurchases

£1,325.3

m

£1,091.9

m

£1,261.3

m

Total net sales

£855.3

m

£1,051.8

m

£1,411.1

m

Net retail sales

£159.0

m

£92.4

m

£870.4

m

Net ISA sales

£123.2

m

£166.6

m

£293.6

m

Net PEP sales

-£262.4

m

-£217.2

m

-£137.1

m

Net Institutional sales

£696.3

m

£959.4

m

£540.7

m

Total accounts

18.91

m

19.03

m

18.72

m

ISA accounts

8.37

m

8.39

m

8.11

m

PEP accounts

6.37

m

6.43

m

7.10

m

Number of funds

1,925

 

1,946

 

1,942

 

Number of companies

124

 

128

 

130

 

Number of OEIC providers

75

 

75

 

72

 

 

 

 

 

 

 

 

 

Regular Savings: No. of Plan Holders

 

Q1 2000

Q2 2000

Q3 2000

Q4 2000

Q1 2001

Q2 2001

Q3 2001

Q4 2001

ISA

1,408,040

1,508,137

1,593,089

1,657,533

1,711,011

1,761,793

1,736,393

1,656,675
Non ISA

294,794

357,795

366,294

362,485

319,893

319,365

311,045

331,663
Total

1,702,834

1,865,932

1,959,383

2,020,018

2,030,904

2,081,158

2,047,438

1,988,338

 

  Q1 2002 Q2 2002 Q3 2002 Q4 2002 Q1 2003 Q2 2003 Q3 2003 Q4 2003
ISA 1,657,111 1,593,893 1,560,062 1,554,530 1,537,339 1,466,976 1,402,618 1,391,838
Non ISA 336,886 344,931 335,185 337,113 338,670 324,031 286,898 273,529
Total 1,993,997 1,938,824 1,895,247 1,891,243 1,876,019 1,791,007 1,689,516 1,665,367

 

 

Q1 2004

Q2 2004

Q3 2004

Q4 2004

ISA

1,369,419

1,335,491

 

 

Non ISA

266,179

261,935

 

 

Total

1,635,598

1,597,426

 

 

 

Sales: £mn

 

Q1 2000

Q2 2000

Q3 2000

Q4 2000

Q1 2001

Q2 2001

Q3 2001

Q4 2001

ISA

£386.3m

£421.2m

£448.0m

£459.4m

£501.0m

£478.6m

£475.9m
£468.5m

Non-ISA

£60.1m

£79.5m

£68.1m

£99.4m

£76.6m

£78.7m

£71.8m

£72.3m

Total

£446.4m