Funds under management of UK domiciled investment funds were £468.3 billion in September, an increase of 2.5% from August and 21% higher than September 2006.¹ UK domiciled ISA funds under management of £54.6 billion were up 1.9% from the previous month and 10% 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 September would have been £438.7 billion without these funds, an increase of 14% from September 2006.}   

Of the £888 million net retail sales £613 million was invested in equities followed by £130 million in balanced funds. Institutional holdings of unit trusts and OEICs saw inflows of £252 million with money market funds accounting for inflows of £246million.

The most popular sector in September was UK All Companies, representing 19% of gross retail sales of all UK domiciled funds.  80% of gross retail sales into the UK All Companies sector were via the intermediary channel.

Overseas funds under management of £17.3 billion in September saw a 6.8% increase from the previous month, while overseas ISA assets of £332.1 million grew 16% from August.

Net retail sales of overseas funds in September were £210.9 million.  Net retail sales of overseas domiciled investment fund ISAs were £2 million in September, an increase of 11% on August.

Mona Patel, Head of Communications of the IMA commented:

" Net retail sales in September appear to have been largely unaffected by the turmoil in world markets with all main asset classes continuing to attract investors.  And this month commodity and property funds were largely responsible for renewed inflows into the specialist sector. "