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Quiet relatively on investment front
Latest figures from the Investment Management Association point to a relatively quiet period for investment sales in January.
Investment funds under management of £411 billion last month saw a small rise from December and were 15% higher than January 2006. ISA funds under management of £51 billion, however, saw a marginal fall, but were still 11% higher than the previous year.
Meanwhile, net ISA sales at £31 million were 71% lower than December and 62% down on January 2006. The most popular ISA sector was UK All Companies, accounting for 28% of gross ISA sales.
Total net sales were £732 million, with bonds accounting for inflows of £345 million. Of the £893 million net retail sales, £576 million was invested in equities, of which £392 million was via property funds, followed by £116 million in balanced funds.
The Specialist sector remained the most popular net retail sector for the thirteenth consecutive month with inflows of £351 million. Property funds in this sector accounted for net retail sales of £392 million.
The sector with the biggest outflows was Europe excluding UK with net outflows of £144 million.
Richard Saunders, CEO of the IMA notes that 2007 opened with a relatively quiet month by recent standards, but net inflows from retail investors were still very healthy at just under £900 million.
"Once again ISA distribution continued to be dominated by fund supermarkets and it will be interesting to see how this develops during the 2007 ISA season."
Moneyextra.com recommends you take independent financial advice before acting on any article
Back2007-02-28 11:35:50 © Moneyextra.com
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