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For immediate release: Monday 25 June 2007
Investment fund statistics May 2007
|Funds under management||£470 billion
(May 2006 £366 billion)
|Total net industry sales||£1.0 billion
(May 2006 £298 million)
|Net retail sales||£1.1 billion
(May 2006 £510 million)
|Net ISA sales||£136 million
(May 2006 £154 million)
UK Domiciled funds
Funds under management of UK domiciled investment funds were £470 billion in May, an increase of 2% from April and 28% from May 2006. UK domiciled ISA funds under management of £56 billion were up 2% from the previous month and 19% higher than the previous year.
Net sales of UK domiciled investment fund ISAs were £136 million in May, 84% less than April and down 12% from May 2006.
The most popular UK domiciled ISA sector in May was UK All Companies accounting for 26% of gross ISA sales.
Total net sales of UK domiciled funds were £1 billion in May with equities accounting for inflows of £294 million. Of the £1.1 billion net retail sales £731 million was invested in equities, followed by £200 million in balanced funds.
The most popular sector in May was UK All Companies, representing 18% of gross retail sales of UK domiciled funds. This sector was favoured by intermediaries and accounted for 17% of gross retail business through this channel.
The most popular distribution channel for UK domiciled funds in May was the intermediary channel representing 85% of gross retail business. Gross ISA sales of £359 million from fund supermarkets made them the dominant distributor of ISAs, followed by £193 million through sales force/tied agents.
The Specialist sector remained the most popular UK domiciled net retail sector with inflows of £431 million, of which £378 million was through property funds. The sector with the biggest outflows in May was the UK Corporate Bond sector with net outflows of £134 million.
Overseas funds under management of £18 billion in May saw a 4% increase from the previous month, while overseas ISA assets of £264 billion grew by 6% from April.
Total net sales of overseas domiciled funds reached £126 million in May, after outflows of £57 million in April. Overseas funds also saw net retail outflows of £3.4 million in May after inflows of £172 million in April.
Net sales of overseas domiciled investment fund ISAs saw outflows of £1.2 million in May, a decrease after the inflows of £7.1 million in April.
Summary of overseas domiciled funds - FUM and sales
Richard Saunders, Chief Executive of the IMA commented:
"This month sees the usual drop in net retail sales after a good late ISA season, but still well ahead of the corresponding month last year. Once again sales in the Specialist sector have been buoyed by retail investors continuing to favour property funds."
1. Summary table
2. UK domiciled funds under management by asset class
3. UK domiciled unit trust/OEIC sales
4. UK domiciled net sales by asset class
5. UK domiciled gross retail sales - 10 year summary
6. Overseas domiciled FUM and sales
7. Sector summary - current month
8. Retail business by sector and channel - current month
9. UK domiciled summary of best and worst selling sectors
10. UK domiciled funds under management - 13 month chart
11. UK domiciled net retail sales - 13 month chart
12. Performance of average UK domiciled fund by IMA sector
If you have any comments on presentation of the monthly statistics please e-mail email@example.com
For further information, please contact:
Noreen Shah, Press Officer, IMA, 020 7831 0898
Mona Patel, Head of Communications, IMA, 020 7831 0898/ 07834 089332