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For immediate release: Friday 27 February 2009 


Investment fund statistics January 2009

Summary

UK DOMICILED

OVERSEAS DOMICILED

     
Funds under management £354.2 billion
(January 2008 £434.2 billion)
£15.2 billion
(January 2008 £16.2 billion)
Net retail sales £1.2 billion
(January 2008 -£561.3 million)
£55.9 million
(January 2008 -£288.4 million)
Net ISA sales £1.4 million
(January 2008 -£335.3 million)
£0.3 million
(January 2008 £1.0 million)

 


UK Domiciled funds

Funds under management
Funds under management of UK domiciled investment funds were £354.2 billion in January 2009, 2% down on the previous month and 18% lower than January 2008. UK domiciled ISA funds under management of £70.8 billion were 4% down on the previous month and 15% lower than the previous year.

Graph showing UK domiciled funds under management since January 2008

ISA sales  
As of April 2008 PEPs were merged into stocks and shares ISAs.  For comparison purposes, IMA ISA data for periods prior to April 2008 will combine PEPs and ISAs. This will apply to both UK and Overseas domiciled fund statistics.

Net sales of UK domiciled investment fund ISAs saw inflows of £1.4 million in January 2009, compared to inflows of £52.3 million the previous month and outflows of £335.3 million in January 2008.

The most popular UK domiciled ISA sector in January 2009 was UK All Companies, accounting for 22% of gross ISA sales.  In net terms the most popular ISA sector was Guaranteed Protected Funds.

UK domiciled net sales by asset class
The £1.2 billion of net retail sales was made up of £1.4 billion in bond funds and equity outflows of £202 million. Institutional holdings of unit trusts and OEICs saw an inflow of £632 million with bond funds accounting for an inflow of £623 million.

Graph showing net retail sales of UK domiciled funds over the last 13 months

Gross retail sales by sector and distribution channel
The most popular sector in January 2009 was £ Corporate Bond, representing 23% of gross retail sales of UK domiciled funds. 88% of gross retail sales into the £ Corporate Bond sector were via the intermediary channel.

The most popular distribution channel for UK domiciled funds in January 2009 was the intermediary channel, representing 87% of gross retail business. Gross ISA sales of £216 million from fund supermarkets made them the dominant distributor of ISAs, followed by £164 million through sales force/tied agents.

Best selling sector for UK domiciled funds
The £ Corporate Bond was the most popular UK domiciled net retail sector with inflows of £1 billion.  The sector with the biggest outflows in January was Europe Excluding UK with net outflows of £212 million.    

OVERSEAS FUNDS

Overseas funds under management of £15.2 billion in January 2009 saw a 5% decrease on the previous month, while overseas ISA assets of £229 million fell 7% from December 2008.

Net retail sales of overseas domiciled funds in January 2009 were £55.9 million. Net retail sales of overseas domiciled investment fund ISAs saw sales of £0.3 million in January 2009, compared to inflows of £1.4 million seen in December 2008

Summary of overseas domiciled funds - FUM and sales  

Richard Saunders, Chief Executive of the IMA commented:

"Over the last three months investors have been adding to their holdings at a significant rate, with bond funds doing particularly well in December and January. And while ISA sales were modest compared to December, they were still a marked improvement on previous months' sales outside of the ISA season."

-Ends-

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 press@investmentuk.org

For further information, please contact:
Noreen Shah, Press Officer, IMA, 020 7831 0898
Mona Patel, Head of Communications, IMA, 020 7831 0898/ 07834 089332

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