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For immediate release: Monday 26 September 2005

INVESTMENT FUND STATISTICS
August 2005

Summary 

• Investment funds under management £311 billion (August 2004 £250 billion)
• Total net industry sales £1.9 billion (August 2004 £394 million)
• Net retail sales £815 million (August 2004 £68 million)
• Net ISA sales £68 million (August 2004 £25 million)

Funds under management 
Investment funds under management of £311 billion in August saw an increase of 1% from July and were 24% higher than August 2004. ISA funds under management of £42.5 billion were up slightly from July and were 23% higher than the previous year.

Graph showing funds under management since August 2004.

ISA sales 
Net ISA sales of £68 million in August were down 1% from July, but were considerably higher than the sales of £25 million in August 2004. The most popular ISA sector in August was UK All Companies, accounting for 27% of gross ISA sales.  

Net sales by asset class 
Total net sales were £1.9 billion with equities accounting for inflows of just over £1 billion. Of the £815 million net retail sales, £295 million was invested in equities, followed by £265 million in bond funds. 

Graph showing net retail sales over the last 13 months.

Gross retail sales by sector and distribution channel 

The most popular distribution channel in August was intermediaries representing 79% of gross retail business. Sales force/tied agents remained the dominant channel for ISA sales and were responsible for 47% of gross ISA sales.

Best selling sector 
UK Corporate Bonds remained the most popular net retail sector with inflows of £155 million. The sector with the biggest outflows in August was UK All Companies with net outflows of £66 million. 
 

Richard Saunders, Chief Executive of the IMA commented:

“Fund inflows held up well in August, which is traditionally the slowest month of the year. Retail sales have been recovering over the summer, though ISA sales have not picked up as strongly.  The strength of the stock market in recent months may be helping confidence to return.”  

-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