For immediate release: Wednesday 8 August 2007
QUARTERLY INVESTMENT FUND STATISTICS FUNDS OF FUNDS, TRACKER AND ETHICAL DATA - Q2 2007
- Total investment funds under management £463 billion
- Funds under management in funds of funds £33 billion
- Net retail sales of funds of funds £535 million
- Tracker funds under management £27 billion
- Net retail sales of tracker funds -£12 million
- Ethical funds under management £5.6 billion
- Net retail sales of ethical funds £138 million
Funds of Funds - funds under management
Funds under management at the end of Q2 reached £33 billion, up from £30 billion at the end of the previous quarter and an increase of 30% from the same quarter in 2006. Balanced funds accounted for the majority of funds under management, representing 69% of assets, followed by 18% in equities.
Funds of funds - net sales
Total net sales were £1.2 billion in Q2, up from £820 million in Q1, and almost the same level as sales in Q2 2006. 59 per cent was invested in internal funds rather than in external funds. The most popular sector in Q2 was Cautious Managed, accounting for inflows of £566 million.
Funds under management in Q2 2007 reached £27 billion, an increase of 4% from Q1 and 18% from the £23 billion in Q2 2006. Retail sales saw a net outflow of £12 million in Q2 2007, compared with an outflow of £4 million in Q1; the same quarter the previous year saw an inflow of £27 million. The most popular distribution channel for gross retail tracker sales was the intermediary channel accounting for 45% of sales.
Ethical funds under management in Q2 2007 saw an increase from the previous quarter and reached £5.6 billion, an increase of 32% on the same quarter in 2006. Retail sales saw a net inflow in Q2 2007 of £138 million, compared to an inflow of £100 million in Q1; the same quarter the previous year saw an inflow of £26 million.
Sheila Nicoll, Deputy Chief Executive of the IMA commented:
"Against a background of improved total net retail sales this quarter compared to last quarter, net retail sales of funds of funds have also picked up. Net retail sales of ethical funds have seen large increases every quarter for the last year, with sales in this quarter alone surpassing those for each of the last four 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:
Mona Patel, Head of Communications, IMA, 020 7831 0898/ 07834 089332