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For immediate release: Thursday 28 May 2009
Investment fund statistics April 2009
|Funds under management||£374.9 billion
(April 2008 £450.9 billion)
(April 2008 £15.9 billion)
|Net retail sales||£2.1 billion
(April 2008 £1.5 billion)
(April 2008 £53.5 million)
|Net ISA sales||£671.4 million
(April 2008 £465.9 million)
(April 2008 £6.7 million)
UK Domiciled funds
Funds under management
Funds under management of UK domiciled investment funds were £374.9 billion in April 2009, 8% up on the previous month and 17% down on April 2008. UK domiciled ISA funds under management of £74.1 billion were 9% up on the previous month and 21% down on the previous year.
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.
UK domiciled investment fund ISAs saw a net inflow of £671.4 million in April 2009, up 93% on the previous month's inflow of £347.7 million and up 44% on the previous year.
The most popular UK domiciled ISA sector in April 2009 in gross and net terms was Cautious Managed. It accounted for 19% of gross ISA sales.
UK domiciled net sales by asset class
Of the £2.1 billion net retail sales, £1.0 billion was accounted for by bond funds and equity funds accounted for £579 million. Institutional holdings of unit trusts and OEICs saw an outflow of £69 million.
Gross retail sales by sector and distribution channel
The most popular sector in April 2009 was £ Corporate Bond, representing 16% of gross retail sales of UK domiciled funds. 90% of gross retail sales into the £ Corporate Bond sector were via the intermediary channel.
The most popular distribution channel for UK domiciled funds in April 2009 was the intermediary channel, representing 85% of gross retail business. Gross ISA sales of £488 million from fund supermarkets made them the dominant distributor of ISAs, followed by £354 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 £683.7 million. The sector with the biggest outflows in April was Global Emerging Markets with a net outflow of £243.1 million.
Overseas funds under management of £16.7 billion in April 2009 were up 5% on the previous month and previous year. Overseas ISA assets of £264 million were up 12% on the previous month and down 27% on the previous year.
Net retail sales of overseas domiciled funds in April 2009 saw an inflow of £126.1 million, up 13% on the previous month and more than double the £53.5 million seen the previous year. Net retail sales of overseas domiciled investment fund ISAs saw an inflow of £2.8 million in April 2009, compared to an inflow of £1.3 million the previous month and £6.7million in April 2008.
Richard Saunders, Chief Executive of the IMA commented:
"Retail sales continued the strong showing of 2009 so far with inflows to bond funds in April exceeding £1 billion for the fifth consecutive month. The figures also confirm that April saw the highest ISA sales in three years."
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 firstname.lastname@example.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