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For immediate release: Monday 24 April 2006

INVESTMENT FUND STATISTICS
March 2006

Summary 

• Investment funds under management £382 billion (March 2005 £284 billion)
• Total net industry sales £3.4 billion (March 2005 £445 million)
• Net retail sales £2.1 billion (March 2005 £506 million)
• Net ISA sales £576 million (March 2005 £445 million)
  
  
• 2005/06 tax year net ISA sales £2 billion (2004/05 tax year £1.8 billion)
• Net ISA sales 1–5 April 2006 £321 million (1–5 April 2005 £327 million)
• Net ISA sales 1 March–5 April 2006 £897 million (1 March–5 April 2005 £772 million)

MARCH 2006

Funds under management 
Investment funds under management of £382 billion in March saw an increase of 3% from February and were 35% higher than March 2005. ISA funds under management of £48 billion also rose and were 25% higher than the previous year.

Net sales by asset class 
Total net sales were £3.4 billion in March with equities accounting for inflows of £1.6 billion. Of the £2.1 billion net retail sales, £1.2 billion was invested in equities, followed by £408 million in bonds. Figures for Quarter 1 2006 show net retail sales reaching £4.6 billion, the highest quarter since Q2 2000.

Gross retail sales by sector and distribution channel 
The most popular sector in March was UK All Companies, representing 21% of gross retail sales. The sector also represented 18% of business through the intermediary channel.  The most popular distribution channel in March was intermediaries representing 78% of gross retail business.

ISA SALES 2005/06

Net ISA sales of £576 million in March were over four times higher than February and were up 29% from March 2005. The most popular ISA sector in March was UK All Companies which accounted for 24% of gross ISA sales. The most popular distributor of ISAs was fund supermarkets accounting for £447 million of gross ISA sales, followed by sales/force tied agents representing £298 million.

The 2005/06 tax year saw net ISA sales of £2 billion, an increase of 13% on 2004/05. The 2005/06 ISA season (1 March–5 April) saw net inflows of £897 million, an increase of 16% on the previous ISA season.

The most popular ISA sector in the 2005/06 tax year was UK All Companies accounting for 27% of gross inflows. The most popular distribution channel was sales force/tied agent representing 32% of gross ISA sales, followed by fund supermarkets.

Richard Saunders, Chief Executive of the IMA commented:

“In terms of net retail sales, March 2006 and the first quarter of this year were the best for six years. In addition, the ISA season was the strongest since 2002. This confirms that retail investors have continued to return to the market.”  

-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