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For immediate release: Monday 19 December 2005
INVESTMENT FUND STATISTICS
November 2005
Summary
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Investment funds under management £333 billion (November 2004 £268 billion)
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Total net industry sales -£1.5 billion (November 2004 £577 million)
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Net retail sales £948 million (November 2004 £369 million)
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Net ISA sales £79 million (November 2004 £51 million)
Funds under management
Investment funds under management were £333 billion in November, up 5% from October and 24% higher than November 2004. ISA funds under management of £44 billion rose 4% from October, and 21% over the previous year.
Graph showing funds under management since November 2004.
ISA sales
Net ISA sales of £79 million in November were less than October but were up 55% from November 2004. The most popular ISA sector in November was UK All Companies, accounting for 28% of gross ISA sales.
Net sales by asset class
Net retail sales were £948 million, the highest since April 2003, although a large institutional redemption took total net sales to an outflow of £1.5 billion. Of the £948 million net retail sales just over half was invested in equities, and about 23% 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 19% of gross retail sales. The sector was favoured by intermediaries and accounted for 17% of gross retail business through this channel.
The most popular distribution channel in November was intermediaries representing 80% of gross retail business. Sales force/tied agents remained the dominant channel for ISA sales and were responsible for 49% of gross ISA sales.
Best selling sector
The Specialist sector remained the most popular net retail sector for the second month with inflows of £161 million. The sector with the biggest outflows in November was UK Money Market with net outflows of £41 million.
Richard Saunders, Chief Executive of the IMA commented:
Net retail sales of investment funds reached a 31 month high in November, as investors continued to return to the markets, with sales of ISAs continuing at a modest but steady level. This helped assets under management to reach another all time high of a third of a trillion pounds.
-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
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