Funds Under Management Hit Record High In 2013 - IMA

Stephen Little

30 January 2014

Funds under management as at the end of 2013 reached a record £770 billion ($1275 trillion), an increase of 16 per cent from 2012, according to data from the UK's .

Equity funds in 2013 saw their highest net retail sales since 2000 at £11.4 billion, while fixed income funds, which were the best-selling in 2012, saw their first ever net retail outflow of £17 million, the firm said.

Meanwhile, net retail sales were £20.4 billion in 2013, up from £14.3 billion in 2012 and net institutional sales for 2013 were £1.7 billion.

Global equity funds remained the best-selling in 2013 for the sixth consecutive year with net retail sales of £4 billion, while the UK region was in second place with net retail sales of £2.9 billion, the highest since 2001.

European equity funds were the third best-selling in 2013 with net retail sales of £2 billion and North American equity funds were the fourth place, with net retail sales of £1.1 billion, the highest since 2001.

The top five selling IMA sectors for 2013 were mixed investment 20-60 per cent shares with net retail sales of £3.1 billion, the highest since 2010; targeted absolute return with net retail sales of £2.2 billion; UK equity income with net retail sales of £1.8 billion; global equity income with net retail sales of £1.8 billion; and property, with net retail sales of £1.5 billion.

In contrast, the worst-selling IMA sector in 2013 was corporate bond with an outflow of £1.7 billion, the lowest net retail sales ever recorded for the sector since it launched in 2008. This sector was worst-selling for seven months during 2013.