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For immediate release: Monday 27 June 2005

INVESTMENT FUND STATISTICS
May 2005

Summary

• Investment funds under management £289 billion (May 2004 £244 billion)
• Total net industry sales £491 million (May 2004 £1046 million)
• Net retail sales £230 million (May 2004 £116 million)
• Net ISA sales £115 million (May 2004 £168 million)

Funds under management
Investment funds under management of £289 billion in May saw a rise of 4% from April and were 19% higher than May 2004. ISA funds under management of £40 billion also rose, and were 20% higher than the previous year.

Graph showing funds under management since May 2004.

ISA sales
Net ISA sales of £115 million in May were lower than April and down 32% from May 2004. The most popular ISA sector in May was UK All Companies, accounting for 26% of gross ISA sales.

Net sales by asset class 
Total net sales were £492 million with bonds accounting for inflows of £622 million whereas equities saw outflows of £357 million. Of the £230 million net retail sales £220 million was invested in bonds.

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 24% of gross retail sales. The intermediary channel was responsible for 70% of these sales.

The most popular distribution channel in May was the intermediaries representing 75% of gross retail business. Sales force/tied agents remained the dominant channel for ISA sales and were responsible for 37% of gross ISA sales. 

Best selling sector
After 11 months as the most popular net retail sector UK Equity Income was, this month, replaced by the UK Corporate Bond sector with £127 million in sales. The sector with the highest net retail outflows in May was UK Smaller Companies with outflows of £69 million.

Richard Saunders, Chief Executive of the IMA commented:

“Investment funds under management reached a new record level in May as markets continued to be strong.  Net retail sales saw their normal seasonal fall after the ISA season but are double that of last May.”

-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:
Mona Patel, Head of Communications, IMA, 020 7831 0898
 
Out of hours contact:
Mona Patel, Head of Communications, IMA, 07834 089332