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For immediate release: Monday 31 October 2005

INVESTMENT FUND STATISTICS
September 2005

Summary 

• Investment funds under management £324 billion (September 2004 £256 billion)
• Total net industry sales £1.2 billion (September 2004 £462 million)
• Net retail sales £801 million (September 2004 £272 million)
• Net ISA sales £46 million (September 2004 - £23 million)

Funds under management 
Investment funds under management of £324 billion in September saw an increase of 4% from August and were 27% higher than September 2004. ISA funds under management of £43 billion increased by 2% in September, and were 23% higher than the previous year.

Graph showing funds under management since September 2004.

ISA sales 
Net ISA sales of £46 million in September were down 31% from August but were significantly higher than the sales of -£23 million in September 2004. The most popular  ISA sector   
in September was UK All Companies, accounting for 27% of gross ISA sales. 

Net sales by asset class 
Total net sales were £1.2 billion with bonds accounting for inflows of £471 million. Of the £801 million net retail sales, £303 million was invested in equities, followed by £286 million 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 17% of gross retail sales. The sector was favoured by intermediaries and accounted for 15% of gross retail business through this channel.

The most popular distribution channel in September was the intermediary channel representing 77% of gross retail business. Sales force/tied agents remained the dominant channel for ISA sales and were responsible for 52% of gross ISA sales. 

Best selling sector 
UK Corporate Bonds remained the most popular net retail sector with inflows of £173 million. The sector with the biggest outflows  in September was the UK All Companies sector with net outflows of £131 million.

Richard Saunders, Chief Executive of the IMA commented:

“For the fifth consecutive month net retail sales of investment funds remained stronger than the equivalent month of 2004. Although net ISA sales fell to an eight month low it is encouraging to note that they are more buoyant than the outflows of £23 million seen this time last year.”

-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