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For immediate release: Wednesday 8 November 2006
QUARTERLY INVESTMENT FUND STATISTICS
FUNDS OF FUNDS, TRACKER AND ETHICAL DATA - Q3 2006
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Total investment funds under management £386 billion
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Funds under management in funds of funds £27 billion
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Net retail sales of funds of funds £568 million
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Tracker funds under management £24 billion
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Net retail sales of tracker funds -£32 million
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Ethical funds under management £4.5 billion
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Net retail sales of ethical funds £23 million
Funds of Funds - funds under management
Funds under management at the end of quarter 3 2006 reached £27 billion, up 6% from £26 billion at the end of the previous quarter and an increase of 26% from the same quarter in 2005. Balanced funds accounted for the majority of funds of funds under management, representing 68% of assets, followed by 19% in equities.
Funds of funds - net sales
Total net sales were £851 million in the third quarter of the year, down from £1.2 billion in Q2, but 14% higher than the £744 million seen in Q3 2005. The gap between funds managed internally and those managed externally narrowed once again in Q3 with 48% of net sales flowing into internal funds while external funds represented 52% of net sales. The most popular total net sector in Q3 2006 was Cautious Managed, accounting for total net inflows of £225 million.
Tracker funds
Funds under management in Q3 2006 reached £24 billion, an increase of 2% from Q2 and up 17% from £20 billion in Q3 2005. Retail sales saw a net outflow in Q3 2006 of £32 million, compared with an inflow of £27 million in Q2. The same quarter of the previous year also saw an outflow of £122 million. The most popular distribution channel for gross retail tracker sales in Q3 2006 was the intermediary channel accounting for 51% of sales. Ethical funds
Ethical funds under management in Q3 2006 also saw an increase from the previous quarter reaching £4.5 billion, an increase of 21% on the same quarter in 2005. Net retail sales of £23 million in Q3 were down 12% on the previous quarter and 18% on Q3 2005.
Property sales
One of the strongest trends to emerge so far in 2006 has been the inflows into property funds sitting within the IMA Specialist sector. To the end of Q3 2006 net retail inflows into property were £2.4 billion, or 21% of all net retail sales and some 6% higher than inflows into the second best selling sector, UK Equity Income. Q3 2006, in particular, saw record inflows with net retail sales of £956 million going into property funds. The most popular distribution channel for property so far in 2006 has been the intermediary channel accounting for 91% of gross retail property sales.
Richard Saunders, Chief Executive of the IMA commented:
"The first three quarters of 2006 have seen unprecedented inflows into property funds sitting within the IMA's Specialist sector, reaching 21 per cent of retail inflows so far in 2006. Funds of funds also continue to be popular and although down on Q3 2005, they continue to represent around a fifth of net retail inflows."
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Glossary
Detailed tables
1. Summary table
2. Quarterly gross retail sales by distribution channel
3. Quarterly net retail sales and net ISA/PEP sales vs FTSE 100
4. Quarterly net retail sales by asset type
5. Quarterly total net sales by client type
6. Comparative performance of £1,000 lump sum over 5, 10 and 15 years
7. Comparative performance of £50 per month savings plan over 5, 10 and 15 years
8. Summary of funds of funds unit trust/OEIC funds under management
9. Summary of funds of funds unit trust/OEIC sales
10. Funds of funds assets and sales by sector
11. Summary of tracker and ethical funds under management and sales
12. Performance of lump sum and savings plans by sector
13.Quarterly net retail sales including property funds
14. Quarterly net retail sales of property fund by distribution channel
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
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