Isa funds under management have reached their highest level since being introduced in 1999, accordin...
Isa funds under management have reached their highest level since being introduced in 1999, according to the latest IMA fund statistics.
At £26.5bn, funds under management have increased 2.6% from May last year, where the total stood at £25.9bn. In April this year, the figure was £25.1bn.
However, while the amount of funds in Isas has grown, net Isa sales were down 22% in May compared to the same month last year, from £459m to £357m.
Net retail sales have also seen a year-on-year decline, dropping from £834m to £742m, with the most popular retail sectors continuing to be UK Corporate Bonds and UK All Companies. The worst selling sectors in net retail terms were Europe ex-UK and Global Growth.
Intermediaries continued to be the most popular channel for retail gross sales, accounting for 63% of all sales in May.
Clarke replacing Balkham
'Deep-dive analysis of client behaviour'
Ways to mitigate April’s increases
The best equity income funds examined