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IMA sales figures rocket in 2005

The latest IMA sales figures show retail fund sales rocketed in 2005 with the busiest year since the technology boom in 2001 rising to 8.5bn from 4.9bn in 2004.

Intermediaries accounted for 77 per cent of sales, up from 73 per cent last year, with December being a massive month accounting for 1.5bn in net retail sales. Of these, equities accounted for inflows of 780m while 353m went into bonds.

The most popular sales channel of 2005 was UK equity income with sales of 1.5bn. The IMA attributes the rise to strong stock market performance over the year. However Isa sales fell from 2bn in 2004 to 1.8bn, the lowest level since their launch.

IMA chief executive Richard Saunders says: During 2005 investors returned to the stock market, with net retail sales gathering momentum through the year and reaching their highest levels since 2001. Isa sales fell, however. So while there is more appetite for investment, people are no longer using Isas to the same degree.


Ship reveals 2005 equity release figures

Ship has revealed an increase in home reversion business but a softening of lifetime mortgage sales. Figures released today by the body show the total value of new business written in Q4 2005 was 297.6m, contributing to a total new business figure of 1.1bn for the hole of 2005. The value of written lifetime mortgage […]

Phoenixes are still a burning issue

A former IFA who set up a claim management firm says the FSA is failing to spot phoenixing after he received a wave of endowment complaints against phoenix firms last year. DTB Investments managing director Derek Baillie says his firm’s experience suggests that phoenixing is much more widespread than thought. He says 90 per cent […]

Prescient gets 1,000th client

IFA firm Prescient Financial Intelligence has gained its 1,000th client 16 months after its launch in August 2004. The firm has offices in Exeter, Glasgow, London and York specialises in Sipp and IHT solutions for small asset managers and discretionary fund managers.

IFAs slam PruHealth ‘bribe’

PruHealth has been criticised by advisers for offering a rew-ard scheme for intermedi- aries to sell its private medical insurance. The Broker Vitality scheme, which mirrors PruHealth’s consumer reward scheme, gives points to brokers who request quotes, product training, joint marketing programmes or place their own company sch-eme with the firm. Conversions of quotes req-uested […]


DB transfer shouldn’t be all-or-nothing

By Steve Webb, director of policy In my recent discussions with advisers, a hot topic has been the growing number of people interested in transferring their defined benefit pension rights into a defined contribution pension scheme. With many pension schemes offering eye-watering transfer values, this is likely to be an area of increasing interest. Yet […]


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