Consumers still straying from investment sector - IMA

Attempting to put a positive spin on investment, the Investment Management Association says funds under management were 10% higher last month compared with July 2003, and ISA funds under management are also up 18% on the year, even though they too are down 2% in July. Total net sales of £172m is now substantially lower than the £1.4bn in July 2003 and way down by 61% from £882m in June this year. Net Isa sales are also down 36% on June and 72% on the same time last year, but financial intermediaries are still responsible for the largest percentage of gross retail sales, says Sheila Ni...