INVESTMENT FUND STATISTICS
April 2007

Funds under management 

Funds under management of UK domiciled investment funds were £459 billion in April, an increase of 2% from March and 19% from April 2006. UK domiciled ISA funds under management of £55 billion were up 4% from the previous month and were 11% higher than the previous year.

Graph showing UK domiciled funds under management since April 2006

ISA sales

Net sales of UK domiciled investment fund ISAs were £853 million in April, 60% higher than March, but were down 10% from April 2006.

The most popular UK domiciled ISA sector in April was UK All Companies, accounting for 21% of gross ISA sales.

UK domiciled net sales by asset class

Total net sales of UK domiciled funds were £1.7 billion in April, with equities accounting for inflows of £915 million. Of the £1.8 billion net retail sales, £1.2 billion was invested in equities, followed by £223 million in bonds. 

Graph showing net retail sales of UK domiciled funds over the last 13 months

Gross retail sales by sector and distribution channel

The most popular sector in April was UK All Companies, representing 19% of gross retail sales of UK domiciled funds. The sector was favoured by intermediaries and accounted for 18% of gross retail business through this channel.

The most popular distribution channel for UK domiciled funds in April was the intermediary channel representing 83% of gross retail business. Gross ISA sales of £639 million from fund supermarkets made them the dominant distributor of ISAs, followed by £422 million through sales force/tied agents.

Best selling sector for UK domiciled funds  

The Specialist sector remained the most popular UK domiciled net retail sector once again with inflows of £488 million, of which £399 million was through the property funds in this sector.  The sector with the biggest outflows in April was the Japan sector with net outflows of £62 million.

OVERSEAS FUNDS

Funds under management
Overseas funds under management of £14 billion in April saw a 9% increase from the previous month, while overseas ISA assets of £250 billion grew 8% from March.

Sales
Total net sales of overseas domiciled funds reached £252 million in April, 14 times higher than the previous month. Overseas funds also saw net retail inflows of £172 million in April, a significant increase from the -£30 million in March.

ISA sales
Net sales of overseas domiciled investment fund ISAs were £7.1 million in April, almost double those seen in March.

Summary of overseas domiciled funds - FUM and sales 

Richard Saunders, Chief Executive of the IMA commented:

"Net retail sales last month were at their highest levels for a year, bolstered by a good late ISA season. Specialist funds, notably property funds, were the best selling sector for the sixteenth consecutive month, followed by a strong showing from the UK equity income sector."

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

Notes to editors:
*Overseas funds comprise open-ended investment funds which are domiciled outside the UK, FSA recognised and sold into the UK with distributor status. Figures reflect sales and FUM to UK investors only. 

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