Only 50% of fund providers record positive net sales in 2007

New figures from the Investment Management Association (IMA) found that, while the number of funds has risen by around a quarter since 1998, the proportion of firms recording positive net sales has fallen to 55%, from a 75% high in 2000. The IMA’s 6th Asset Management in the UK survey also found net retail sales for 2007 were at £9.5bn, a drop of almost £6bn from the previous year, although it points out this sharp fall was concentrated in the fourth quarter, after the credit crisis took hold. Conversely, gross retail sales of UK domiciled investment funds were the highest on record dur...