View more on these topics

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.”

Recommended

CAR is the driving force for the future

Friends Provident’s withdrawal from the intermediary market is no recent development – it has been happening gradually for years, starting with the unilateral stakeholder-isation of all personal pensions written by its once supporting IFAs throughout the 1990s.

Mouse trap

A few weeks ago, after one of those industry seminars which you find yourself attending for some mysterious reason and then wonder why you bothered, an IFA asked me what criteria I use to decide what topic to write about this column.

Brokers bitter that FSA failed to focus on big banks

Advisers have launched a scathing attack on the FSA for its handling of Northern Rock, claiming it chose to overburden small advisers while turning a blind eye to the big banks.The Mortgage Practitioner sole practitioner Danny Lovey says it was obvious that Northern Rock would get into trouble but the FSA chose to bury its […]

Fidelity International picks Di Bon as head of global equities

Fidelity International has appointed of Ilario Di Bon as head of global equities.Di Bon will head the global equities investment team, which covers sector, US and global emerging markets desks. He will also have responsibility for broadening the firm’s institutional global equity product range.Di Bon joins from UBS Asset Management where he was lead portfolio […]

Indian market rallies as Modi's popularity strengthens

Kunal Desai, manager of the Neptune India Fund, comments on the implications of the BJP’s historic election win in India’s most populous state, Uttar Pradesh. Read the full article here Important Information – for investment professionals only. Not for retail clients.  Investment risks  The Neptune India Fund may have a high volatility rating and past […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment