INVESTMENT FUND STATISTICS
March 2007

Summary  

• UK domiciled investment funds under management £448 billion (March 2006 £383 billion)
• Total UK domiciled net sales -£3.2 billion (March 2006 £3.4 billion)
• UK domiciled net retail sales £1.2 billion (March 2006 £2.1 billion)
• UK domiciled net ISA sales £534 million (March 2006 £575 million)

•  2006/07 tax year UK domiciled net ISA sales £2.5 billion (2005/06 tax year £2 billion)
• UK domiciled net ISA sales 1-5 April 2007 £423 million (1-5 April 2006 £321 million)
• UK domiciled net ISA sales 1 March-5 April 2007 £957 million (1 March - 5 April 2006 £896 million)

March 2007

Funds under management 

UK investment funds under management of £448 billion in March saw an increase of 1% from February and were 17% higher than March 2006. UK ISA funds under management of £53 billion rose 2% from February and were 10% higher than the previous year.

Net sales by asset class 

Total UK net sales were -£3.2 billion in March, with balanced funds accounting for inflows of £389 million. Of the £1.2 billion net retail sales, £836 million was invested in equities, £471 million of which was in property funds, followed by £312 million in balanced funds.

Gross retail sales by sector and distribution channel 

The most popular sector for UK domiciled funds was UK All Companies, representing 22% of gross retail sales and 21% of business through the intermediary channel. The most popular distribution channel for UK domiciled funds in March was the intermediary channel representing 82% of UK gross retail business.

ISA SALES 2006/07
Net ISA sales of UK domiciled funds were £534 million in March, more than six times higher than February, but down 7% from March 2006.

The 2006/07 tax year saw net ISA sales of £2.5 billion, an increase of 25% on 2005/06. The 2006/07 ISA season (1 March - 5 April) saw net inflows of £957 million, an increase of 7% on the previous ISA season.

The most popular ISA sector for UK domiciled funds in the 2006/07 tax year was UK All Companies accounting for 24% of gross inflows. The most popular distribution channel for UK domiciled funds was fund supermarkets representing 39% of gross ISA sales, followed by 33% through sales force/tied agents.

Richard Saunders, Chief Executive of the IMA commented:

"Net retail sales in March continued to remain around the £1 billion mark for the third consecutive month. The ISA season saw inflows of just under £1 billion, an increase of 7% on the previous season.  With net sales of £2.5 billion for the tax year as a whole, there was a 25% recovery from 2005/06. Although ISA sales are still some way down from their peak, they do appear to be moving in a positive direction."

-Ends-

UK DOMICILED INVESTMENT FUND ISA SALES 2006/07

Glossary

Detailed tables
1. Summary table 
2. UK domiciled funds under management by asset class
3. UK domiciled unit trust/OEIC sales
4. UK domiciled net sales by asset class
5. UK domiciled gross retail sales - 10 year summary
6. Overseas domiciled FUM and sales
7. Sector summary - current month
8. Retail business by sector and channel - current month
9. UK domiciled summary of best and worst selling sectors
10. UK domiciled funds under management - 13 month chart
11. UK domiciled net retail sales - 13 month chart
12. Performance of average UK domiciled 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