For immediate release: Thursday 10 May 2007
QUARTERLY INVESTMENT FUND STATISTICS FUNDS OF FUNDS, TRACKER AND ETHICAL DATA - Q1 2007
- Total investment funds under management £448 billion
- Funds under management in funds of funds £30 billion
- Net retail sales of funds of funds £420 million
- Tracker funds under management £26 billion
- Net retail sales of tracker funds -£4.1 million
- Ethical funds under management £5 billion
- Net retail sales of ethical funds £100 million
Funds of Funds - funds under management
Funds under management at the end of quarter 1 reached £30 billion, up from £29 billion at the end of the previous quarter and an increase of 17% from the same quarter in 2006. Balanced funds continued to account for the majority of funds under management, representing 68% of assets, followed 18% in equities.
Funds of funds - net sales
Total net sales were £821 million in the first quarter of the year, up from £729 million in Q4 2006, but down 12% from £936 million in Q1 2006. Of the £821 million total net sales, 58% of was invested externally, rather than in internal funds. The most popular net sector in Q1 was cautious managed for the third consecutive quarter, accounting for inflows of £347 million.
Funds under management in Q1 reached £26 billion, an increase of 3% from Q4 2006 and 11% from the £24 billion in Q1 2006. Retail sales saw a net outflow of £4 million in the first quarter of 2007, compared with an outflow of £60 million in Q4 2006; the same quarter the previous year saw an outflow of £174 million. The most popular distribution channel for gross retail tracker sales was the intermediary channel accounting for 39% of sales.
Ethical funds under management in the first quarter of 2007 saw an increase of 8% from the previous quarter and 21% from Q1 2006, passing £5 billion for the first time. Net retail sales of £99.8 million were almost double those seen in Q4 2006, and were three times higher than the same quarter in the previous year.
Richard Saunders, Chief Executive of the IMA commented:
"2007 has started well for funds of funds, which breached the £30 billion mark for the first time. Ethical funds were also off to a good start, passing the £5 billion milestone in the first quarter and seeing net retail inflows of £100 million, the highest for almost five years."
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:
Helen Stephenson, Communications Officer, IMA, 020 7831 0898
Out of hours contact:
Mona Patel, Head of Communications, IMA, 07834 089332