IMA: Net retail sales down on last year

Sales dropped to £9.5bn in 2007 compared to £15.3bn in 2006, with the IMA pointing out that this sharp fall was concentrated in the fourth quarter, after the credit crisis took hold. The IMA's 6th Asset Management in the UK Survey also revealed that the proportion of firms recording positive net sales has dropped in the last eight years, falling to 55pc from 75pc in 2000 despite the number of funds rising by around a quarter since 1998. Assets managed in the UK on behalf of retail clients (including both UK and overseas domiciled funds) are estimated to account for some £770bn compared...