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Retail investment fund sales in 2001 down by £8.5bn

Sales of retail investment funds plummeted by almost half in 2001,

down by £8.5bn on the previous year.

Net retail sales fell to £9.26bn from £17.74bn in 2000, the

first year-on-year drop in sales since 1995.

December sales showed some signs of recovery, however, rising by 11

per cent on the previous month to £629m from 568m.

Nevertheless, this figure was still 36 per cent down on last

December&#39s total of £987m.

Net Isa sales stayed roughly level between November and December,

dipping to £260m from £267.9m. This was down by 46 per cent

on last December&#39s Isa sales, which had benefited from an early start

to the Isa season.

IFAs continued to maintain their dominance in the retail market,

accounting for 64 per cent of sales in 2001 compared with 61 per cent

in 2000 and 48 per cent in 1999.

Tied salesforces saw their share fall to 16 per cent from 20 per cent

in 2000, with direct channels accounting for 14 per cent and private

clients wrapping up 6 per cent.

Autif head of communications Clare Arber says: “After the impact of

September 11, the year ended on an encouraging note, with net retail

investment increasing over the last quarter. However, it is not

surprising that sales declined overall during 2001. The uncertainty

caused by world events and, in particular, lower market values kept

many potential savers away. On the other hand, existing investors did

not panic and sell but stayed calm and remained invested.”


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Standard Life – Small Self-Administered Scheme

Thursday January 31, 2002 Type: Small Self-Administered Scheme. Minimum investment: £416.67 a month first member, £208.33 a month average for additional members. Investment choice: Standard Life funds – sterling one, fixed interest one, property one, protection one, structured one, index-linked one, managed one, ethical one, international one, stock exchange one, Far East one, European one, […]

Protection on Merrill funds

Merrill Lynch HSBC has set up two investment products providing 100per cent capital protection over three or four years.The Euro Stoxx protected investment product tracks the Dow Jones EuroStoxx 50 index for three years and is comprised of stocks from the 11eurozone countries. It offers a basic growth return of 6 per cent ifheld to […]

Principality Building Society fixed mortgage

Fixed term: until 31/03/05Fixed rate: 4.99%Minimum loan: £5,000 Maximum loan: up to 75% of valuationIncome multiples: 3.5 times principall income and 2.5 times jointRedemption fee: 2% of advance for three yearsArrangement fee: £299Conditions: daily interestIntroducer fee: standard 0.34%, negotiableTel: 0800 328 1717


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