Intermediaries accounted for more than 80% of gross retail business in the investment sector, as total funds under management rose to £411bn in January, while net ISA sales fell by more than 70%.
The latest figures from the Investment Management Association (IMA) reveal total investment funds under management rose slightly in January from just over £410bn in December, while the data shows a 15% rise in funds under management compared to 12 months ago. However, the figures highlight a marginal fall in Isa funds under management, which slipped to £51bn, although the IMA points out this is still 11% higher than the same time last year. Despite the government’s decision in December to make the Isa regime permanent, IMA figures show net Isa sales have fallen 71% between December and ...
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