IMA

The IMA's new Strategic Bond sector is a step in the right direction but it will not replace the need for financial advice, warns F&C bond manager Fatima Luis.

Net retail sales suffered a massive £491m outflow in July, compared to inflows of £1bn in July 2007, the IMA says.

Liontrust Asset Management is calling for the IMA to toughen up on the UK Equity Income sector, to create what it calls "a level playing field".

Retail fund of fund sales continued to defy current market movements in Q2 this year, climbing 67% on the previous quarter.

Net retail sales for June were only £140m compared to £748m in June 2008, with the biggest net inflow into the ‘other' category, driven by absolute return funds.

The IMA has made a raft of changes to its fixed income sectors following a recent review.

UK fund managers now run more money in offshore vehicles than those domiciled in Britain and the trend will continue to increase should the Government not implement a more competitive tax system, the IMA warns.

Retail investors continued to pour money back into property funds in April after a period of outflows from the sector, according to IMA statistics.

The IMA has warned compensation levels are rising in the investment arena and the industry will be in trouble if it continues to allow or encourage unattainable client expectations.

Matthew Stemp, head of UBS Global Asset Management UK, has been appointed to the board of the Investment Management Association (IMA).