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For immediate release: Monday 30 January 2006
INVESTMENT FUND STATISTICS
December 2005
Summary
Investment funds under management £347 billion (December 2004 £275 billion)
Total net industry sales £2 billion (December 2004 £673 million)
Net retail sales £1.5 billion (December 2004 £279 million)
Net ISA sales £131 million (December 2004 £93 million)
2005 total net industry sales £11.7 billion (2004 £5.7 billion)
2005 net retail sales £8.5 billion (2004 £4.9 billion)
2005 net ISA sales £1.8 billion (2004 £2 billion)
December 2005
Funds under management
Investment funds under management of £347 billion in December increased by 4% from November and were 26% higher than December 2004. ISA funds under management of £45 billion rose by 1% from November, and were 20% higher than the previous year.
ISA sales
ISA sales (link to summary table of unit trust/OEIC sales. Web table 2)
Net ISA sales of £131 million in December were 66% higher than the sales of £79 million in November and were up 41% from December 2004.
Net sales by asset class
Total net sales were £2 billion in December 2005 with equities accounting for inflows of £960 million. Of the £1.5 billion net retail sales, £780 million was invested in equities, followed by £353 million in bonds.
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2005 Summary
Strong stock market performance throughout 2005 saw sales of investment funds improve from the levels seen in 2004. Total funds under management increased by 26% from the previous year and breached the £300 billion mark for the first time in July. ISA funds under management were up 20% on the previous year.
Funds under management split by retail and institutional business 1996-2005
Retail Funds under management 1996-2005
Institutional sales
Net inflows of £3.2 billion in 2005 were significantly higher than the sales of £807 million in 2004, accounting for 27% of total net business.The most popular net institutional asset class in 2005 was bonds (£2.7 billion) followed by balanced managed (£1.4 billion).
Unit trust/OEIC net sales 1996-2005
Retail sales
Net retail sales of £8.5 billion in 2005 rose 73% from 2004 and were at their highest level since 2001. Throughout 2005 net retail sales improved quarter by quarter with the largest increase of 62% occurring between Quarters 2 and 3.
The most popular net retail sector of 2005 was UK Equity Income with sales of £1.5 billion. Intermediaries were the largest distributors of investment funds in 2005 accounting for 77% of gross retail sales, an increase of 4% from the previous year.
Gross retail sales by distribution channel 2001-2005
ISA sales
Although ISA sales started to improve towards the end of the year, net ISA sales fell 10% in 2005 to £1.8 billion, the lowest level since ISAs were introduced in 1999.
The most popular sector was Cautious Managed accounting for £310 million of net ISA sales.
Sales force/tied agents were the most popular distribution channel for ISAs in 2005 representing 33% of gross ISA sales, they were closely followed by fund supermarkets which accounted for 30% of gross ISA business.
Quarterly fund supermarket net ISA sales 2002-2005
Asset split
Equities were the most popular asset class in 2005 accounting for 39% of net retail sales, a fall from 52% in 2004. Bonds represented 32% of net retail sales but again were down from the 34% in 2004.
Funds under management by asset type 2005
Net retail sales by asset type 2005
Richard Saunders, Chief Executive of the IMA commented:
During 2005 investors returned to the stock market, with net retail sales gathering momentum through the year and reaching their highest levels since 2001. ISA sales, however, were less than £2 billion, the lowest annual figure since their launch.
So, while there is now much more appetite for investment, people are no longer using ISAs to the same degree. This is an important development for the Government as it considers the future of ISAs in its review this year.
-Ends-
Glossary
Detailed tables
December 2005
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
2005 Annual Data
12. Funds under management split by retail and institutional business 1996-2005
13. Retail Funds under management 1996-2005
14. Unit trust/OEIC net sales 1996-2005
15. Gross retail sales by distribution channel 2001-2005
16. Funds under management by asset type 2005
17. Net retail sales by asset type 2005
18. Quarterly fund supermarket net ISA sales 2002-2005
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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