For immediate release: Wednesday 5 August 2009
QUARTERLY INVESTMENT FUND STATISTICS FUNDS OF FUNDS, TRACKER AND ETHICAL DATA - Q2 2009
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Total investment funds under management £389.3 billion
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Funds under management in funds of funds £32.5 billion
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Net sales of funds of funds £1.2 billion
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Net retail sales of funds of funds £976.1million
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Tracker funds under management £21.5 billion
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Net retail sales of tracker funds £258.9 million
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Ethical funds under management £4.5 billion
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Net retail sales of ethical funds -£18.4 million
Funds of Funds - funds under management
Funds under management at the end of Q2 2009 were £32.5 billion, up 15% on the previous quarter but down 3% on the same quarter in 2008. Balanced funds accounted for the majority of funds under management, representing 65% of assets, followed by 19% in equity funds.
Funds of funds - net sales
Total net sales of £1.2 billion in Q2 2009 were up the previous quarter's net sales of £423.8 million, and higher than the £1.1 billion seen in Q2 2008. Most of the net sales were of funds that invest externally. The most popular sector sector in Q2 2009 was Cautious Managed, accounting for net inflows of £347.5 million, followed by Balanced Managed with a net inflow of £337.5 million.
Tracker funds
Funds under management in Q2 2009 reached £21.5 billion, an increase of 16% from the previous quarter but 10% down from £23.8 billion seen in Q2 2008. Retail sales saw a net inflow of £258.9 million in Q2 2009 compared with an outflow of £31.6 million in the previous quarter; the same quarter the previous year saw an outflow of £1.8 million. The most popular distribution channel for tracker gross retail sales was intermediaries, accounting for 61% of sales.
Ethical funds
Ethical funds under management of £4.5 billion in Q1 2009 were up 11% on the previous quarter but 14% lower than the £5.2 billion seen in the same quarter in 2008. Retail sales saw a net outflow in Q2 2009 of £18.4 million, compared to an inflow of £45.9 million in the previous quarter; the same quarter the previous year saw an inflow of £49.5 million.
Jane Lowe, Director of Markets at the IMA commented:
"In line with overall net retail sales, funds of funds saw record net retail inflows in quarter two. Although only a small proportion of total funds under management, ethical funds by contrast saw their first net outflow since records began in 1992."
-Ends-
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
For further information, please contact:
Noreen Shah, Press Officer, IMA, 020 7831 0898
Mona Patel, Head of Communications, IMA, 07834 089332
