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For immediate release: Tuesday 31 May 2005

INVESTMENT FUND STATISTICS
APRIL 2005

Summary

• Investment funds under management £277 billion (April 2004 £249 billion)
• Total net industry sales £778 million (April 2004 £700 million)
• Net retail sales £625 million (April 2004 £846 million)
• Net ISA sales £586 million (April 2004 £589 million)

Funds under management
Investment funds under management of £277 billion in April saw a fall of 2% from March but were 11% higher than April 2004. ISA funds under management of £38 billion also fell, but were 14% higher than the previous year.

Graph showing funds under management since April 2004.

ISA sales
Net ISA sales of £586 million in April were 32% higher than March and almost at the same level as April 2004. The most popular ISA sector in April was UK All Companies, accounting for 27% of gross ISA sales.  

Net sales by asset class 
Total net sales were £778 million with bond funds accounting for inflows of £429 million. Of the £624 million net retail sales £242 million was invested in bonds, followed by £192 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, taking 26% of gross retail sales. Almost a quarter of these sales went through the intermediary channel. 

The most popular distribution channel in April was intermediaries representing 73% of gross retail business. Sales force/tied agents remained the dominant channel for ISA sales and were responsible for 44% of gross ISA sales. 

Best selling sector
UK Equity Income remained the most popular retail sector with net inflows of £176 million worth of sales. The sector with the biggest net retail outflows in April was the Europe excluding UK sector at £64 million.

Richard Saunders, Chief Executive of the IMA commented:

“ It is encouraging that a healthy performance in April left net ISA sales in March and April just over £1 billion and very much in line with the last two years.  This may reflect the Chancellor’s positive decision in the current Finance Bill to retain the existing limit, and might also presage some returning confidence.  But it remains clear that ISA incentives need further revitalisation and we will be looking for more progress in this area in the new Parliament.”

-Ends-

Glossary

Detailed tables
1. Summary table 
2. Funds under management by asset class
3. Unit trust/OEIC sales
4. Net sales by asset class
5. Gross retail sales – 10 year summary
6. Sector summary – current month
7. Retail business by sector and channel – current month
8. Summary of best and worst selling sectors
9. Funds under management – 13 month chart
10. Net retail sales – 13 month chart
11. Performance of average fund by IMA sector

If you have any comments on presentation of the monthly statistics please e-mail press@investmentuk.org

For further information, please contact:
Helen Stephenson, Communications Officer, IMA,  020 7831 0898
 
Out of hours contact:
Mona Patel, Head of Communications, IMA  07834 089332