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For immediate release: Tuesday 26 July 2005

INVESTMENT FUND STATISTICS
June  2005

Summary 

• Investment funds under management £298 billion (June 2004 £250 billion)
• Total net industry sales £274 million (June 2004 £875 million)
• Net retail sales £448 million (June 2004 £267 million)
• Net ISA sales £62 million (June 2004 £121 million)

Funds under management 
Investment funds under management of £298 billion in June saw a rise of 3% from May and were 19% higher than June 2004. ISA funds under management of £41 billion also rose 3%, but were 21% higher than the previous year.

Graph showing funds under management since June 2004.

ISA sales
Net ISA sales of £62 million in June were less than the £115 million in May and were down 49% from June 2004. The most popular ISA sector in June was UK All Companies, accounting for 27% of gross ISA sales. 

Net sales by asset class
Total net sales were £274 million with bond funds accounting for inflows of £587 million. Of the £448 million net retail sales, £258 million was invested in bond funds, followed by £77 million in balanced funds.

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 20% of gross retail sales. The sector was favoured by intermediaries and accounted for 19% of gross retail business through this channel.

The most popular distribution channel in June was the intermediary channel representing 76% of gross retail business. Sales force/tied agents remained the dominant channel for ISA sales and were responsible for 50% of gross ISA sales. 

Best selling sector 
UK Corporate Bond was the most popular net retail sector for the second month with inflows of £151 million. The sector with the biggest outflows in June was UK All Companies with net retail outflows of £82 million.

Richard Saunders, Chief Executive of the IMA commented:

“Despite a fall in net ISA sales in June, net retail sales of unwrapped investment funds almost doubled from the previous month. Strong markets in June once again pushed funds under management to their highest ever level, almost reaching the £300 billion mark.”
 

-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:
Despina Constantinides, Partner, Polhill Communications 07801 337 677