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Press Release

Embargoed until 12 noon: Monday 30 September 2002

 

 INVESTMENT FUND STATISTICS
August 2002

  • Investment funds under management £207 billion

  • Gross industry sales £3.4 billion (Aug 2001 £3.6 billion)

  • Gross retail sales £2.05 billion (Aug 2001 £2.02 billion)

  • Gross ISA sales £403 million (Aug 2001 £469.9 million)

Gross retail sales for August 2002 were up marginally from the previous year to £2.06 billion.  Total gross sales, however, were down to £3.4 billion from £3.6 billion in August 2001.  Net retail sales were approximately 26% higher than the same month last year.

With August traditionally the quietest month of the year, gross ISA sales fell 13% to £403.2 million and repurchases of £2.8 billion fell 12% from July 2002.  Net ISA sales of £272.8 million were down 18% from August 2001 and 4% from July 2002. 

The intermediary channel accounted for 67% of gross retail sales in August, while 18% was attributable to sales forces and tied agents.  The most popular sectors in the intermediary channel were UK All Companies, North America and UK Equity Income, which together had a share of 45% of total gross sales.  Within the sales force/tied agent channel, however, UK Corporate Bonds accounted for 55% of total gross sales.

In net terms, the UK Corporate Bond sector was the most popular overall, followed by the UK Equity Income and Balanced Managed sectors.  Total net retail inflows for the UK All Companies sector fell to £4.6 million from £94.7 million in July 2002.

Richard Saunders, Chief Executive, commented:

"Net retail investment continued to hold up in August notwithstanding falls in the stock market.  The most popular sectors come as no surprise, with investors seeking less volatile homes for their savings in unstable markets."   

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

 

Aug-02

Jul-02

Aug-01

Total funds under management

£207.2 bn

£205.0 bn

£239.5 bn

ISA funds

£23.1 bn

£22.3 bn

£21.0 bn

PEP funds

£38.4 bn

£37.0 bn

£49.5 bn

OEIC funds

£97.4 bn

£93.5 bn

£75.1 bn

Total gross sales

£3,422.2 m

£4,146.3 m

£3,602.5 m

Gross retail sales

£2,057.7 m

£2,301.2 m

£2.024.4 m

Gross ISA sales

£403.2 m

£465.3 m

£469.9 m

Gross PEP sales

£82.2 m

£150.2 m

£141.4 m

Gross institutional sales

£1,364.6 m

£1,845.1 m

£1,578.1 m

Total repurchases

£2,818.4 m

£3,197.5 m

£2,794.6 m

Retail repurchases

£1,501.8 m

£1,735.1 m

£1,582.7 m

ISA repurchases

£130.3 m

£180.9 m

£138.5 m

PEP repurchases

£222.1 m

£307.9 m

£399.5 m

Institutional repurchases

£1,316.7 m

£1,462.5 m

£1,211.9 m

Total net sales

£603.8 m

£948.8 m

£807.9 m

Net retail sales

£555.9 m

£566.1 m

£441.7 m

Net ISA sale

£272.8 m

£284.4 m

£331.4 m

Net PEP sales

£-139.9 m

£-157.6 m

£-258.1 m

Net Institutional sales

£47.9 m

£382.6 m

£366.2 m

Total accounts

18.56 m

18.62 m

17.75 m

ISA accounts

7.838 m

7.809 m

7.108 m

PEP accounts

7.73 m

7.75 m

8.57 m

Number of funds

1,977

1,976

1,960

Number of companies

131

131

150

Number of OEIC providers

69

69

53

 

For further information please contact:

Dick Saunders, Chief Executive,  IMA, 020 7831 0898
Dorian Carrell,  Head of Statistics,  IMA, 020 7831 0898
Helen Stephenson, Communications Officer,  IMA, 020 7831 0898

Notes to Editors:

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

Net Retail Sales

UK Corporate Bond

UK Equity Income

Net Institutional Sales

UK Corporate Bond

UK Equity Income

Worst selling funds in August

Net Retail Sales

Europe Excluding UK

Europe Including UK

Net Institutional Sales

UK Smaller Companies

UK Money Market

  

 

- Ends -

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