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For Immediate Release:
Thursday 26 August 2004
INVESTMENT FUND STATISTICS
July 2004
-
Investment funds under management £243
billion
-
Gross industry sales £4.1 billion (July
2003 £4.4 billion)
-
Gross retail sales £2.2 billion (July 2003
£2.5 billion)
-
Gross ISA sales £353 million (July 2003
£444 million)
Investment funds under management in
July fell 2% from June, but were 10% higher than the same
month last year. ISA funds under management of £33 billion
were also up on the year (by 18%) but were down 2% from the
previous month.
Total net sales of £172 million were
significantly lower than the £1.4 billion in July last year
and were some way behind the £882 million of June. Net
retail sales were also considerably lower than the £873
million last year and 61% lower than in June.
Continuing the recent trend, net sales
of ISAs were once again lower than in previous months.
Compared to June, ISA net sales had fallen 36% and were down
72% from the previous year.
The most popular sectors in July were
UK All Companies, responsible for 26% of gross retail sales,
followed by UK Equity Income (15%).
As in previous months, intermediaries
remain the biggest sellers of investment funds accounting
for 77% of gross retail sales, whilst sales force/tied
agents continue to sell the largest proportion of ISAs
(43%).
Sheila Nicoll, Deputy Chief Executive
of the IMA commented:
“While gross retail
sales remained fairly stable in July the data in net
terms tells a very different story. Net sales continued
to fall significantly from previous months indicating
that there is little new money going into the market for
both unwrapped investment funds and ISAs.
One possibility for such
falls is the lack of investor confidence in what has
been a stagnant market, coupled with increasing interest
rates making cash an appealing alternative.”
Summary table – July 2004 – Unit
trust/OEIC, ISA and PEP data
|
|
Jul-04 |
|
Jun-04 |
|
Jul-03 |
|
|
Total funds under management |
£243.4 |
Bn |
£249.7 |
bn |
£221.8 |
bn |
|
ISA funds |
£33.0 |
Bn |
£33.9 |
bn |
£27.9 |
bn |
|
PEP funds |
£35.9 |
Bn |
£37.1 |
bn |
£36.6 |
bn |
|
OEIC funds |
£154.5 |
Bn |
£158.4 |
bn |
£125.7 |
bn |
|
Total gross sales |
£4,063.9 |
M |
£4,331.3 |
m |
£4,383.6 |
m |
|
Gross retail sales |
£2,194.5 |
M |
£2,407.0 |
m |
£2,542.3 |
m |
|
Gross ISA sales |
£353.3 |
M |
£421.0 |
m |
£444.4 |
m |
|
Gross PEP sales |
£63.5 |
M |
£78.0 |
m |
£75.7 |
m |
|
Gross institutional sales |
£1,869.4 |
M |
£1,924.3 |
m |
£1,841.2 |
m |
|
Total repurchases |
£3,892.3 |
M |
£3,448.9 |
m |
£2,950.0 |
m |
|
Retail repurchases |
£2,086.0 |
M |
£2,127.6 |
m |
£1,669.7 |
m |
|
ISA repurchases |
£276.3 |
M |
£300.0 |
m |
£165.4 |
m |
|
PEP repurchases |
£305.4 |
M |
£340.4 |
m |
£229.1 |
m |
|
Institutional repurchases |
£1,806.4 |
M |
£1,321.3 |
m |
£1,280.3 |
m |
|
Total net sales |
£171.6 |
M |
£882.4 |
m |
£1,433.6 |
m |
|
Net retail sales |
£108.6 |
M |
£279.4 |
m |
£872.7 |
m |
|
Net ISA sales |
£77.0 |
M |
£120.9 |
m |
£279.1 |
m |
|
Net PEP sales |
-£241.9 |
M |
-£262.4 |
m |
-£153.4 |
m |
|
Net Institutional sales |
£63.0 |
M |
£603.0 |
m |
£560.9 |
m |
|
Total accounts |
18.78 |
M |
18.91 |
m |
18.72 |
m |
|
ISA accounts |
8.33 |
M |
8.37 |
m |
8.10 |
m |
|
PEP accounts |
6.31 |
M |
6.37 |
m |
7.06 |
m |
|
Number of funds |
1,921 |
|
1,925 |
|
1,929 |
|
|
Number of companies |
124 |
|
124 |
|
130 |
|
|
Number of OEIC providers |
75 |
|
75 |
|
73 |
|
|
|
|
|
|
|
|
|
Best and worst selling sectors – net retail sales
|
Year |
Month |
Best |
Worst |
|
2004 |
July |
UK Equity Income |
Europe Excluding UK |
|
|
June |
UK Equity Income |
UK All Companies |
|
|
May |
UK Equity Income |
Far East Excluding Japan |
|
|
April |
UK All Companies |
Europe Excluding UK |
|
|
March |
UK Equity Income |
North America |
|
|
February |
UK All Companies |
UK Equity & Bond Income |
|
|
January |
UK All Companies
|
UK Smaller Companies |
|
2003 |
December |
UK All Companies |
UK Smaller Companies |
|
|
November |
UK Corporate Bond |
Global Growth |
|
|
October |
UK Corporate Bond |
Europe Excluding UK |
|
|
September |
UK Corporate Bond |
UK Smaller Companies |
|
|
August |
UK All Companies |
Europe Excluding UK |
|
|
July |
UK Corporate Bond |
Europe Excluding UK |
For
further information please contact:
Mona Patel, Head of
Communications, IMA, 020 7831
0898
Out Of hours
contact:
Mona Patel, Head of
Communications, IMA, 07834 089332
Detailed
Monthly Sales Figures
-
ends -
|
