View more on these topics

October fund sales up but performance sags

Investment fund sales continued to climb in October despite one of the poorest periods of performance for unit trusts for over a year.

Net Isa sales rose by 2.7 per cent to £633.1m from £616.6m in September, acc ording to the latest figures from Autif.

However, the average ret urn on unit trusts for the year to October 30 fell to 9.58 per cent, according to Standard & Poor&#39s Micropal. This is the first time the annual return has dipped below 10 per cent since July last year.

The Autif figures show that the UK all companies sector has taken the biggest proportion of sales over the last six months. Forty-six per cent of all direct Isa sales and 48 per cent of all salesforce and tied agent Isa sales were acc ounted for by the UK all companies sector between May and October.

IFA sales proved to be the most diverse, with only 19 per cent in the UK all companies sector and 17 per cent in Europe.

IFAs continued to account for the biggest proportion of Isa sales, with 40 per cent of all Isa business. Tied agents and salesforces accounted for 35 per cent of Isa sales while direct channels accounted for 25 per cent.

Plan Invest director Mich ael Owen says: “It sounds as though the Isa season is kicking in early. There has been a lot of comment recently about not leaving your Isas until the last minute.

“There has been quite a feeling among IFAs that if you have got the market down at this part of the year, why wait until March?”


CII to add more AFPC tests

The Chartered Insurance Institute is introducing two new Advanced Financial Planning Certificate exams for people wanting to progress from the FPC or improve their existing AFPC passes. The two exams, Retirement Options and Pension Investment Options, will be introduced next year and both need to be passed to qualify for full AFPC creditation. CII director […]

Buy to let booms in the North with top rental yields

The North/South divide is alive and well when it comes to the buy-to-let mortgage market, according to specialist lender Paragon Mortgages. But it is the North which comes out on top in Paragon&#39s latest customer survey, showing the highest gross and net returns on residential investment property are found north of Watford. Returns in the […]

Decision trees branch out

I usually hate the early morning alarm call on a dark, wet and windy Monday. A warm bed seems so much more enticing than thoughts of the long, unpredictable week ahead. Meetings, writing content for m-link, phone calls, lunches, email, more meetings- it must be time for a holiday. But, this week would be very […]

[Technology] A fair exchange

Over two-thirds of 100 IFAs polled at the eXcom conference in October said the most important objective of using technology was to deliver improved levels of service to their clients. The Exchange&#39s role over the past 10 years has been to develop products and services that enable them to do so and this remains our […]


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