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Press Release

 For Immediate Release:  Monday 4 April 2005

 

INVESTMENT FUND STATISTICS 
February 2005

  • Investment funds under management £285 billion (February 2004 £245 billion)
  • Total net industry sales £1,117 million (February 2004 -£1,116 million [1] )
  • Net retail sales £542 million (February 2004 £759 million)
  • Net ISA sales £86 million (February 2004 £210 million)

Funds under management
Investment funds under management, at £285 billion in February, increased by just over 2.6% compared to January and by 16% compared to February 2004.  ISA funds under management, at £38 billion, are up 2% since last month and 20% since a year ago. See Table 1 and Graph showing funds under management since February 2004.

ISA sales
Net ISA sales of £86 million made up 16% of total retail sales and were more than double the level of January sales. See Table 2.  The most popular ISA sector by gross sales was UK All Companies.  See Table 5.  

Net sales by asset class
Total net sales were £1,117 million with balanced funds proving the most popular closely followed by bond funds.  Of the £542 million net retail sales 53% (£289 million) went into equities followed by bond funds at 32% of the total (£174 million). See Table 3 and Graph showing net retail sales over the last 13 months.

Gross retail sales by channel and sector
Of the £2.9 billion gross retail sales £2.2 billion went through intermediaries representing 74% of the total, with UK All Companies as the favoured sector accounting for 20% of sales via intermediaries.  The most popular distribution channel for gross ISA sales was Sales Force/Tied Agents who sold 33% of the £417 million ISA sales.  The most popular sector for gross ISA sales – excluding fund supermarkets – was UK All Companies taking 31% of all sales.  See Table 4 & Table 6.

Best selling sector
The UK Equity Income Sector was the most popular sector by net retail sales for the 9th consecutive month with £292 million in net sales this month.  See Tables 5 & Table 7.

Sheila Nicoll, Deputy Chief Executive of the IMA commented,

“Net retail sales have reached their highest level in 10 months with net ISA sales more than doubling since last month.  The combination of the end of the “ISA season” and an improvement in the markets may be encouraging investors to start investing again.”


If you have any comments on presentation of the monthly statistics please e-mail press@investmentuk.org 

 

[1] Mainly reflecting one large institutional transaction

 

For further information, please contact:
Helen Stephenson, Communications Officer, IMA, +44 (0)20 7831 0898
Mona Patel, Head of Communications, IMA, +44 (0)20 7831 0898

Out of hours contact:
Mona Patel, Head of Communications, IMA, 07834 089332

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