View more on these topics

IFAs take two-thirds of fund sales

The best-selling funds in the IFA sector in August were UK all companies, equity income and corporate bonds and North America funds, according to Investment Management Association figures.

Fund sales in the tied market were concentrated on UK corporate bond funds.

Gross retail fund sales overall fell from July&#39s £2.3bn to £2.05bn but that figure was slightly up on August 2001&#39s £2.02bn.

Gross sales of Isas fell to £272m in August from£465m in July and £331m in August 2001.

Intermediaries accounted for 67 per cent of all sales, with tied agents and direct salesforces accounting for just 18 per cent and direct for 15 per cent.

UK all companies with gross sales of £251m, North America with £199.5m UK equity income with £178m were the most popular sectors in the intermediary channel, accounting for 45 per cent of all sales.

In the tied and direct salesforce channel, UK corporate bond funds were most popular, accounting for 55 per cent of total gross sales at £200.5m while IFAs also sold £156m in corporate bond funds. Across all channels, European funds were the worst selling.

IMA chief executive Richard Saunders says: “Net retail investment continued to hold up in Aug-ust, notwithstanding falls in the stockmarket.”


Advisers in fight for survival

Why are we all so quick to criticise what others are saying or doing? I am convinced that all the negative comments about other people&#39s perspectives are divisive and make us look like a laughing stock to the FSA and the Government.What has happened to us working together and putting forward logical, rational and intelligent […]

AITC says the worst is over for split sector

The collapse of the Aberdeen preferred income trust and the Dartmoor investment trust have brought the total number of split-capital trusts in receivership to six but the Association of Investment Trust Companies says the troubled sector is turning the corner.To date, a further 12 split-cap trusts have had trading in their shares suspended, with investors […]

Poll shows attitudes to mortgage regulation

Only one in four mortgage intermediaries believes FSA regulation will help them grow their business by improving the image of the sector and creating new opportunities, says BM Solutions.But the BM Solutions smart index survey of 200 brokers also reveals that 29 per cent are still concerned that regulation to be introduced in 2004 will […]

Birmingham Midshires revises childrens account

Birmingham Midshires has revised its young savers account to make it more accessible to children.The move was made in response to research carried out by the former building society which revealed that 88 per cent of people believe they picked up their financial habits from their parents.Under the new conditions, the minimum opening balance has […]

Guarantees in the retirement income market

Lorna Blyth, Royal London  Do guarantees benefit customers and, if so, when? To answer this conundrum we commissioned Millimans, a global actuarial consulting firm, to conduct an independent review of the UK retirement income market and whether guarantees really do offer customers better value for money. The brief The study was one of the most comprehensive undertaken […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm