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Click on blue links to view tables For Immediate Release: Monday 25 April 2005
INVESTMENT FUND STATISTICS
Investment funds under management of £282 billion in March saw a fall of 1% from February but were 15% higher than March 2004. ISA funds under management of £38 billion also fell slightly, but were 19% higher than the previous year.
Graph showing funds under management since March 2004
Net ISA sales of £445 million in March were more than 5 times higher than February but were down 10% from March 2004. The most popular ISA sector in March was UK All Companies, accounting for 30% of gross ISA sales
ISA season Despite a slow start to the ISA season, March and the first five days of April took £772 million net, although sales were down by more than half on the previous tax year. 2004/05 saw net ISA sales of £1.7 billion compared to £3.6 billion in the 2003/04 tax year.
Total net sales were £462 million with bond funds accounting for inflows of £345 million. Of the £424 million net retail sales, £177 million was invested in bond funds, closely followed by £175 million in equities.
Graph showing net retail sales over the last 13 months.
Gross retail sales by sector and distribution channel The most popular sector was UK All Companies, representing 22% of gross retail sales. The sector was favoured by intermediaries and accounted for 20% of gross retail business through this channel.
The most popular distribution channel in March was the intermediary channel representing 72% of gross retail business. Sales force/tied agents remained the dominant channel and were responsible for 40% of gross ISA sales.
The UK Equity Income Sector remained the most popular net retail sector with inflows of £231 million worth of sales. The sector with the biggest outflows in March was the Active Managed sector with net outflows of -£41million.
Richard Saunders, Chief Executive of the IMA commented:
“The Chancellor’s decision to retain ISA limits in the March Budget has undoubtedly been vindicated. ISA sales reached an eleven month high in March, and we have seen a distinct ISA season in 2005, albeit some way short of previous years. Future policy on incentives to save will need to be a key priority for the Government after the Election.” - ends - Performance of average fund by IMA sector (end March 2005) If you have any comments on presentation of the monthly statistics please e-mail press@investmentuk.org For further information, please contact: Out of hours contact: |
