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For Immediate Release:
Monday 27 September 2004
INVESTMENT FUND STATISTICS
August
2004
·
Investment funds under management £248 billion
·
Gross
industry sales £3.6 billion (August 2003 £3.3 billion)
·
Gross
retail sales £2 billion (August 2003 £2.2 billion)
·
Gross
ISA sales £347 million (August 2003 £387 million)
Investment funds under management increased by 2% from July
to £248 billion, and by 9% from August 2003. ISA funds under
management also rose from the previous month to £34 billion
and by 17% from the same month last year.
Total
net sales in August saw an increase of 177% to £402 million
from July, but fell well behind the £718 million seen in
August 2003. Net retail sales of £69 million were down 18%
from the previous month and were again much lower than the
£766 million taken in August 2003.
While
gross ISA sales were down marginally from the previous month
by just 2%, net ISA sales continued the downward trend of
the past four months, falling to £25 million from £77
million. Net sales are lower across the board due to an
increase in redemptions but it is ISAs which are
particularly affected with redemptions more than doubling
since August last year.
The most
popular sectors in August were UK All Companies accounting
for 23% of gross retail sales, followed by UK Equity Income
(16%) and UK Corporate Bond (12%).
Intermediaries continue to be the largest distributors of
unit trust and OEIC funds, representing 74% of gross retail
sales, whilst sales force/tied agents remain the top sales
channel of investment fund ISAs accounting for 44% of gross
ISA sales.
Richard
Saunders, Chief Executive of the IMA commented:
“Although August is traditionally the quietest month of
the year for sales, this summer’s figures have
undoubtedly been poor. It would seem that investor
confidence remains low, as high levels of redemptions
continue to have a large impact on the ISA market in
particular.”
Summary table – August 2004 – Unit
trust/OEIC, ISA and PEP data
|
|
Aug-04 |
|
Jul-04 |
|
Aug-03 |
|
|
Total funds under management |
£248.3 |
bn |
£243.6 |
bn |
£227.1 |
bn |
|
ISA funds |
£33.5 |
bn |
£33.0 |
bn |
£28.7 |
bn |
|
PEP funds |
£36.1 |
bn |
£35.9 |
bn |
£37.2 |
bn |
|
OEIC funds |
£157.9 |
bn |
£154.5 |
bn |
£127.6 |
bn |
|
Total gross sales |
£3,606.2 |
M |
£4,055.0 |
m |
£3,347.3 |
m |
|
Gross retail sales |
£2,088.2 |
M |
£2,188.3 |
m |
£2,175.2 |
m |
|
Gross ISA sales |
£346.8 |
M |
£353.0 |
m |
£386.5 |
m |
|
Gross PEP sales |
£80.4 |
M |
£63.3 |
m |
£70.1 |
m |
|
Gross institutional sales |
£1,518.0 |
M |
£1,866.7 |
m |
£1,172.1 |
m |
|
Total repurchases |
£3,204.8 |
M |
£3,910.1 |
m |
£2,629.4 |
m |
|
Retail repurchases |
£2,019.2 |
M |
£2,103.7 |
m |
£1,409.3 |
m |
|
ISA repurchases |
£322.0 |
M |
£276.5 |
m |
£151.5 |
m |
|
PEP repurchases |
£361.1 |
m |
£305.4 |
m |
£202.9 |
m |
|
Institutional repurchases |
£1,185.6 |
m |
£1,806.4 |
m |
£1,220.1 |
m |
|
Total net sales |
£401.5 |
m |
£144.9 |
m |
£717.9 |
m |
|
Net retail sales |
£69.1 |
m |
£84.7 |
m |
£765.9 |
m |
|
Net ISA sales |
£24.8 |
m |
£76.5 |
m |
£235.0 |
m |
|
Net PEP sales |
-£280.7 |
m |
-£242.1 |
m |
-£132.8 |
m |
|
Net Institutional sales |
£332.4 |
m |
£60.3 |
m |
-£48.0 |
m |
|
Total accounts |
18.62 |
m |
18.78 |
m |
18.86 |
m |
|
ISA accounts |
8.27 |
m |
8.33 |
m |
8.14 |
m |
|
PEP accounts |
6.17 |
m |
6.31 |
m |
7.02 |
m |
|
Number of funds |
1,942 |
|
1,921 |
|
1,907 |
|
|
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 |
August |
UK Equity Income |
UK All Companies |
|
|
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 |
For
further information please contact:
Helen Stephenson,
Communications Officer, IMA, 020 7831
0898
Richard
Saunders, Chief Executive, IMA, 020 7831
0898
Out Of hours
contact:
Mona Patel, Head of
Communications, IMA, 07834 089332
Detailed
Monthly Sales Figures
-
ends -
|
