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Click on blue links to view tables For immediate release: Tuesday 28 August 2007 UK Domiciled Overseas Domiciled Funds under Management £456 billion (July 2006 £374 billion ) £16.6 billion (July 2006 £10.3 billion) Total net industry sales -£1.8 billion (July 2006 £470 million) ) £299 million (July 2006 £130 million) Net retail sales £977 million (July 2006 £646 million ) £92 million (July 2006 £36 million) Net ISA sales £90 million (July 2006 £125 million) £0.4 million (July 2006 £2.6 million) UK Domiciled Funds Funds under management of UK domiciled investment funds were £456 billion in July, a fall of 1.6% from June, but were 22% higher than July 20061.UK domiciled ISA funds under management of £54 billion were down 2% from the previous month and 12% higher than the previous year. 1. The increase in funds under management is mainly due to the inclusion of additional institutional funds from January 2007. The total FUM for July would have been £427 billion without these funds, an increase of 14% from July 2006. Graph showing UK domiciled funds under management since July 2006 Net sales of UK domiciled investment fund ISAs were £90 million in July, 17% less than June and down 28% from July 2006. The most popular UK domiciled ISA sector in July was the UK All Companies sector, accounting for 28% of gross ISA sales. In net terms the most popular ISA sector was Cautious Managed. UK domiciled net sales by asset class UK domiciled funds saw total net outflows of £1.8 billion in July with equities accounting for outflows of £2.9 billion. Of the £977 million net retail sales £571 million was invested in equities, followed by £275 million in balanced funds. 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 July was the UK All Companies sector, representing 18% of gross retail sales of UK domiciled funds. This sector was favoured by intermediaries and accounted for 17% of gross retail business through this channel. The most popular distribution channel for UK domiciled funds in July was intermediaries representing 87% of gross retail business. Gross ISA sales of £295 million from fund supermarkets made them the dominant distributor of ISAs, followed by £173 million through sales force/tied agents. Best selling sector for UK domiciled funds The sector with the largest net retail inflow was the Specialist sector, at £305 million, of which £94 million was in property funds. The sector with the biggest outflows in July was the UK Corporate Bond sector with net outflows of £162 million. OVERSEAS FUNDS Overseas funds under management of £16.6 billion in July saw a 1% increase from the previous month, while overseas ISA assets of £273 billion grew 5% from June. Total net sales of overseas domiciled funds reached £299 million in July an increase of 11% from the previous month. Overseas funds also saw net retail inflows of £92 million in July a decrease of 26% from June. Net sales of overseas domiciled investment fund ISAs were £0.4 million in July, up from the £0.1 million outflow in June. Summary of overseas domiciled funds - FUM and sales Richard Saunders, Chief Executive of the IMA commented: "Lower UK funds under management reflect the fall in the market in July. Net retail sales continued at the healthy levels of the last two years spread across a number of asset classes. The dominance of property funds in retail sales was less pronounced than in recent months." -Ends- Detailed tables If you have any comments on presentation of the monthly statistics please e-mail press@investmentuk.org For further information, please contact: |
