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IMA stats see end to outflows

Funds under management in the UK saw an upturn for the first time in three months according to the latest figures from the Investment Management Association.

Funds under management rose by 2 per cent to £441.3bn but were still down on the £443.9bn figure from February 2007.

The results follow two months of record outflows with £377m and £550m for December 2007 and January 2008 respectively.

The specialist sector produced the largest net retail inflows at £276m with commodity funds producing £119m. Property funds also saw outflows stemmed to £7m from £77.3m in January.

Net Isa sales also moved into positive territory with £31.7m of inflows for February, this compares to January’s outflow of £68.4m. However, the sales are still dwarfed by £88.1m of sales at the same point in 2007.

IMA director of markets Jane Lowe says: “This month sees positive sales figures for both overall net retail sales and ISAs.

“Although it is too early to tell, these modest figures may indicate that consumers’ investment in funds has settled down, following the asset switching taking place over the last few months. Only time will tell if long term confidence has returned.”


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