The use of Cookies
on the IMA website

Like most websites the IMA uses cookies. By continuing to browse our site you are agreeing to the terms and conditions of our cookie policy.

Member area login

Consumer website

Press Release

 

Embargoed until 12 noon: Monday 29 July 2002

 

 INVESTMENT FUND STATISTICS
June 2002

 

  • Investment funds under management £222 billion

  • Gross industry sales £3.8 billion (June 2001 £4.9 billion)

  • Gross retail sales £2.3 billion (June 2001 £2.5 billion)

  • Gross ISA sales £429 million (June 2001 £571 million)

 

Overall total gross sales of investment funds were £13.4 billion in the second quarter of 2002, down 7% from £14.3 billion for the same period last year.  Gross retail sales were £8.6 billion, compared with £8.5 billion in the second quarter of last year.  In net terms total industry sales were marginally up to £2.72 billion compared to £2.71 billion in the same quarter the previous year.  Retail net sales, at £3.1 billion, were 7% down from the £3.4 billion for the same period in 2001. 

ISA gross sales for the month were 25% down on June 2001 to £429 million, with net sales down by 35% to £300 million.  41% of ISA sales were made through sales forces and tied agents, whilst IFAs were responsible for 35% and the 'direct' channel accounted for 23%.

There was significant investment by retail investors in the UK Corporate Bond sector (£298 million), contributing 14% of gross retail sales.  The UK Equity Income (at £222 million) and Far East excluding Japan (at £132 million) sectors accounted for 10% and 6% of sales.  The Far East ex Japan sector has increased its share of sales by 5% compared to June 2001.  Equity funds, such as the UK All Companies, North America and Europe ex UK sectors have seen their proportion of sales reduce.  The inflow into the UK Corporate Bond sector was largely made through the sales force/tied agent channel, whilst intermediaries were responsible for the sales of funds from the UK Equity Income and Far East ex Japan sectors.

The number of regular savings plans increased slightly in the second quarter and is back over two million. Contribution levels were however £511.7 million, down 3.7% from the previous quarter.

Richard Saunders, Chief Executive, commented:

"These figures show a continued positive inflow from retail investors, though it continues to be at a lower level than last year.  It is encouraging that, despite falling markets, there has been no significant increase in repurchases, suggesting that investors are not indulging in panic selling.  They appear to understand that volatility is an inherent part of stockmarket investment and realise the need to stay invested for the long term."

Regular Savings Plans: Q2 2002 (1st April 2002 to 30th June 2002) 

 

Q1 1999

Q2 1999

Q3 1999

Q4 1999

Q1 2000

Q2 2000

Q3 2000

Q4 2000

PEP/ISA

1,759,588

1,342,113

1,165,696

1,340,003

1,408,040

1,508,137

1,593,089

1,657,533

Non PEP/ISA

256,867

298,615

321,891

274,382

294,794

357,795

366,294

362,485

Total

2,016,455

1,640,728

1,487,587

1,614,385

1,702,834

1,865,932

1,959,383

2,020,018

 

 

Q1 2001

Q2 2001

Q3 2001

Q4 2001

Q1 2002

Q2 2002

Q3 2002

Q4 2002

PEP/ISA

1,711,011

1,761,793

1,736,393

1,656,675

1,658,301

1,657,803

 

 

Non-PEP/ISA

319,893

319,365

311,045

331,663

337,605

357,019

 

 

Total

2,030,904

2,081,158

2,047,438

1,988,338

1,995,906

2,014,822

 

 

 

Sales: £mn

 

Q1 1999

Q2 1999

Q3 1999

Q4 1999

Q1 2000

Q2 2000

Q3 2000

Q4 2000

PEP/ISA

£431.0m

£243.6m

£321.3m

£351.3m

£386.3m

£421.2m

£448.0m

£459.4m

Non-PEP/ISA

£84.3m

£70.6m

£60.4m

£54.8m

£60.1m

£79.5m

£68.1m

£99.4m

Total

£515.3m

£314.2m

£381.7m

£406.2m

£446.4m

£500.7m

£516.2m

£558.9m

 

 

Q1 2001

Q2 2001

Q3 2001

Q4 2001

Q1 2002

Q2 2002

Q3 2002

Q4 2002

PEP/ISA

£501.0m

£478.6m

£475.9m

£468.5m

£460.9m

£440.8m

 

 

Non-PEP/ISA

£76.6m

£78.7m

£71.8m

£72.3m

£71.5m

£70.9m

 

 

Total

£577.5m

£557.2m

£547.8m

£540.8m

£531.4m

£511.7m

 

 

Note: Figures represent totals for the quarter, not monthly totals within the quarter.

 

Summary table: June - Unit Trust, ISA and PEP data

 

Jun-02

May-02

Jun-01

Total funds under management

£222.2 bn

£240.1 bn

£253.0 bn

ISA funds

£24.4 bn

£25.9 bn

£21.3 bn

PEP funds

£42.3 bn

£45.5 bn

£52.0 bn

OEIC funds

£92.8 bn

£98.0 bn

£76.0 bn

Total gross sales

£3,804.6 m

£4,246.8 m

£4,846.7 m

Gross retail sales

£2,275.5 m

£2798.1 m

£2,501.8 m

Gross ISA sales

£428.8 m

£634.5 m

£571.8 m

Gross PEP sales

£109.5 m

£164.0 m

£209.2 m

Gross institutional sales

£1,529.2 m

£1,448.6 m

£2,344.8 m

Total repurchases

£3,290.8 m

£3,245.0 m

£6,621.2 m

Retail repurchases

£1697.8 m

£1899.1 m

£1,859.4 m

ISA repurchases

£128.5 m

£175.1 m

£108.3 m

PEP repurchases

£271.9 m

£383.2 m

£400.5 m

Institutional repurchases

£1,593.0 m

£1,345.9 m

£4,761.8 m

Total net sales

£513.8 m

£1,001.8 m

£-1,774.6 m

Net retail sales

£577.7 m

£899.0 m

£642.4 m

Net ISA sales

£300.3 m

£459.4 m

£463.5 m

Net PEP sales

£-162.3 m

£-219.2 m

£-191.3 m

Net Institutional sales

£-63.9 m

£102.7 m

£-2,416.9 m

Total accounts

18.67 m

18.87 m

17.97 m

ISA accounts

7.771 m

7.803 m

6.882 m

PEP accounts

7.93 m

7.95 m

8.68 m

Number of funds

1,952

1,972

1,940

Number of companies

132

134

154

Number of OEIC providers

68

68

52

 

For further information please contact:

Dick Saunders, Chief Executive,  IMA, 020 7831 0898
Dorian Carrell,  Head of Statistics,  IMA, 020 7831 0898
Clare Arber,  Head of Communications,  IMA, 020 7831 0898



Notes to Editors:

Copies of all monthly sales statistics from December 1997 are available on the IMA Website

Best selling funds in June

Net Retail Sales
UK Corporate Bond

UK Equity Income

Net Institutional Sales
UK Corporate Bond

UK All Companies

Worst selling funds in June

Net Retail Sales
North America

Global Growth

Net Institutional Sales
UK Equity & Bond Income

UK Smaller Companies

 

 

- Ends -  

Investment management association

IMA © MMXIV