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Press Release

For immediate release: Thursday 7 May 2009

QUARTERLY INVESTMENT FUND STATISTICS FUNDS OF FUNDS, TRACKER AND ETHICAL DATA - Q1 2009

  • Total investment funds under management £347.9 billion
  • Funds under management in funds of funds £28.3 billion
  • Net retail sales of funds of funds £311.5 million
  • Tracker funds under management £18.3 billion
  • Net retail sales of tracker funds -£31.7 million
  • Ethical funds under management £4.1 billion
  • Net retail sales of ethical funds £45.2 million

Funds of Funds - funds under management
Funds under management at the end of Q1 2009 were £28.3 billion, down from £29.3 billion seen at the end of the previous quarter and down 14% from the same quarter in 2008. Balanced funds accounted for the majority of funds under management, representing 67% of assets, followed by 18% in equity funds.

Funds of funds - net sales
Total net sales of £378.4 million in Q1 2009 were up 65% on the previous quarter, and lower than the £647.1 million seen in Q1 2008. 78% was invested externally.  The most popular sector sectorin Q1 2009 was Cautious Managed, accounting for net inflows of £154.9 million.    

Tracker funds
Funds under management in Q1 2009 reached £18.3 billion, a decrease of 8% from the previous quarter and 25% down from £24.5 billion seen in Q1 2008. Retail sales saw a net outflow of £31.7 million in Q1 2009 compared with an inflow of £279.4 million in the previous quarter; the same quarter the previous year saw an inflow of £62.2 million. The most popular distribution channel for tracker gross retail sales was intermediaries, accounting for 60% of sales.

Ethical funds
Ethical funds under management were £4.1 billion in Q1 2009, a slight decrease from the previous quarter's £4.4 billion and 24% lower than the £5.4 billion seen in the same quarter in 2008. Retail sales saw a net inflow in Q1 2009 of £45.2 million, compared to an inflow of £54.8 million in the previous quarter; the same quarter the previous year saw an inflow of £27.6 million.

Jane Lowe, Director of Markets at the IMA commented:

"Net retail investment in funds of funds has improved considerably since last quarter but is still well below 2008. Ethical and tracker funds are showing slightly atypical trends, reflecting their niche position in the funds market."

-Ends-

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:
Noreen Shah, Press Officer, IMA, 020 7831 0898
Mona Patel, Head of Communications, IMA, 07834 089332

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