Money News
Latest figures from the IMA (Investment Management Association) show the ongoing credit crunch having little impact on investment fund inflows in September. Indeed, funds under management of UK domiciled investment funds were £468.3 billion, an increase of 2.5% from August and 21% higher than September 2006. Meanwhile, UK domiciled ISA funds under management of £54.6 billion were up 1.9% from the previous month and 10% higher than the previous year.
Elsewhere, net sales of UK domiciled investment fund ISAs were £43.2 million in September, 13% more than August, but down 14% from September 2006.
The most popular UK domiciled ISA sector in September was UK All Companies, accounting for 27% of gross ISA sales. In net terms the most popular ISA sector was Cautious Managed.
Of the £888 million net retail sales, £613 million was invested in equities followed by £130 million in balanced funds. Institutional holdings of unit trusts and OEICs saw inflows of £252 million, with money market funds accounting for inflows of £246million.
The most popular sector in September was UK All Companies, representing 19% of gross retail sales of all UK domiciled funds. 80% of gross retail sales into the UK All Companies sector were via the intermediary channel.
The sector with the largest net retail inflow (£267 million) was the Specialist sector. 44% (£118 million) was through commodity funds and 26% (£69 million) through property funds. The sector with the biggest outflow in September was the UK Corporate Bond sector (£119 million).
Meanwhile, overseas funds under management of £17.3 billion saw a 6.8% increase from the previous month, while overseas ISA assets of £332.1 million grew 16% from August.
Finally, net retail sales of overseas funds were £210.9 million, while net retail sales of overseas domiciled investment fund ISAs were £2 million, an increase of 11% on August.
30 October 2007 © Moneyextra.com
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