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IMA’s October fund statistics show property still most popular

The specialist sector is still the most popular net retail sector with property accounting for 73 per cent of October’s inflows according to the latest monthly fund statistics from the Investment Management Association.

The sector saw October inflows of £519m with property representing £379m while the global growth sector saw the biggest monthly decrease with net outflows of £136m.

Net ISA sales stood at £83m, 71 per cent higher than September, but 5 per cent down on October 2005, with the UK all companies sector accounting for 23 per cent of gross ISA sales.

However ISA funds under management reached a high of £50bn in October, 18 per cent up on the previous year and total investment funds under management reached £398bn, 25 per cent higher than a year earlier, and 3 per cent up on September.

Total net retail sales for the month were £1.6bn with equities accounting for £1.1 bn, of which £379m was via property funds, followed by £254m in bonds.

The intermediary channel remained the most popular distribution channel, representing 87 per cent of gross retail business last month.

IMA chief executive Richard Saunders said: “For the second consecutive month net retail sales into investment funds have seen record monthly highs, with over £1.6bn setting a new high for October inflows. This was more than £1bn higher than the same month in 2005.”

“Business through intermediaries also saw record inflows, accounting for 86 per cent of gross retail business. All in all, we believe this reflects the growing importance in the market of fund supermarkets and other platforms.”

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Guy de Blonay

When an ambitious Swiss law graduate stopped off in London on his way to New York, all his dreams of conquering Wall Street faded when he was offered a job by John Duffield, then head of Jupiter Asset Management. As one of three managers who went with the entrepreneurial Duffield to New Star, he now runs the top-performing global financials fund – ‘the greatest sector in the world’, he tells Helen Pow

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