IMA stats reveal UK confidence before Northern Rock fall

Monthly data supplied by the Investment Management Association (IMA) for August reveals UK All Companies was the biggest selling fund sector – the first time it has held the position since April 2004. Funds under management of UK domiciled investment funds were £455.5bn in August 2007, a slight fall from July 2007, but 21% higher than August 2006. UK domiciled ISA funds under management of £53.6bn were slightly down from the previous month but 11% higher than the previous year. The IMA says the increase in funds under management is mainly due to the inclusion of additional institution...