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27 July 2009

IMA: UK Investment Fund Statistics June 2009

Investors have been coming back to the market : over the past two months UK retail investors have begun putting money into equity funds, particularly international equities and bond funds.

Richard Saunders, Chief Executive of the IMA, commented: "Investors have been coming back to the market in recent months and June saw a continuation of this trend.  Retail investors have begun over the last two months to put money into equity funds, particularly international equities, as well as bond funds.  As a result, net retail sales in the second quarter were the highest on record and net ISA sales the highest for six years."

The findings of the report are as follows:
·         Funds under management of UK domiciled investment funds were £389.3 billion in June 2009. This was slightly down on the previous month's figure of £391.6 billion and down 9% on June 2008.
·         UK domiciled investment funds ISAs saw a net inflow of £246.9 million in June 2009 compared to the previous month's inflow of £310.7 million and the previous year's outflow of £220.1 million.
·         The most popular UK domiciled ISA sector in June 2009 in gross and net terms was Cautious Managed.  The Cautious Managed sector accounted for 22% of gross ISA sales.
·         Of the £2.5 billion net retail sales, £990 million went into equity funds and £897 million into bond funds. Institutional holdings of unit trusts and OEICs saw an outflow of £612 million. Institutional holdings in bond funds accounted for an outflow of £890 million and money market funds accounted for an inflow of £155 million.
·         The most popular sector in June 2009 was £ Corporate Bond accounting for 13% of gross retail sales of UK domiciled funds. 89% of gross retail sales into the £ Corporate Bond sector were via the intermediary channel.
·         The most popular distribution channel for UK domiciled funds in June 2009 was the intermediary channel representing 87% of gross retail business. Gross ISA sales were £789 million with £306 million sold through fund supermarkets followed by £242 million through sales force/tied agents.
·         The £ Corporate Bond was the most popular UK domiciled net retail sector for the eighth month in a row with an inflow of £533.3 million.  The sector with the biggest outflows in June was Money Market with a net outflow of £13.4 million.
·         Overseas funds under management of £17.8 billion in June 2009 remained the same as the previous month and were up 9% on the previous year. Overseas ISA assets of £296 million were broadly the same as the previous month and down 3% on the previous year.


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