US equity funds bounce back in Q1 2024 with £1.5 billion inflow – IA Monthly Stats Release

APPENDIX

FUNDS UNDER MANAGEMENT AND NET SALES - March 2024

	Funds Under Management	Net Retail Sales	Net Institutional Sales
March 2024	£1.47 trillion	446 million	-£1,363 billion
March 2023	£1.38 trillion	-£229 million	-£10.7 billion

BEST SELLING INVESTMENT ASSOCIATION SECTORS 

The five best-selling Investment Association sectors for March 2024 were:

1. Global with net retail sales of £842 million.
2. North America with net retail sales of £469 million.
3. Volatility Managed followed with net retail sales of £344 million.
4. Mixed Investment 40-85% Shares with net retail sales of £255 million.
5. Corporate Bond was fifth with net retail sales of £251 million.
   

The worst-selling Investment Association sector in March 2024 was UK All Companies, which experienced outflows of £887 million.

NET RETAIL SALES BY ASSET CLASS

Fixed Income saw £809 million in inflows.

Equity funds saw £149 million in inflows.

Money Market saw £16 million in outflows.

Property saw £67 million in outflows.

Others saw £157 million in outflows.

Mixed Asset saw £272 million in outflows.

NET RETAIL SALES OF EQUITY FUNDS BY REGION* 

Global funds saw net retail inflows of £753 million.

North America experienced inflows of £654 million.

Japan funds experienced inflows of £145 million.

Asia funds experienced outflows of £71million

Europe funds experienced outflows of £158 million.

UK funds saw net retail outflows of £1.3 billion.

TRACKER FUNDS

Tracker funds saw net retail inflows of £2,9 billion in March 2024. Tracker funds under management stood at £345 billion at the end of March. Their overall share of industry funds under management was 23.5%.

RESPONSIBLE INVESTMENT FUNDS 

Responsible investment funds saw a net retail outflow of £329 million in March 2024. Responsible investment funds under management stood at £106 billion at the end of March. Their overall share of industry funds under management was 7.2%.   

ENDS  

For further information, please contact:

Helen Ayres, Head of Communications: [email protected].
T:+44 7596 872575

Ismail Abdi, Communications Executive, [email protected]

+44 7596 872575

IA press office: [email protected]  

Notes to Editors

The Investment Association has made a data revision to its monthly fund statistics, which has resulted in revising down annual net retail sales over 2023. The change to flow data is principally from funds that are not allocated to the IA sectors. These sales appear in the Unallocated row on tab 7 of the 2023 press tables. This in turn has impacted on the reported total retail sales at industry and asset class level. There has been a small downward revision of FUM. Firms making revisions to the data reported have now submitted updated data to the IA with the revised year-end figures published in this month's press release.

To see a breakdown of the fund data referenced in this press release, please see all of the tables here.

The Investment Association's figures for fund sales cover retail and institutional sales in authorised unit trusts and open-ended investment companies (OEICs) provided by our membership to UK investors. The figures do not include investment trusts and ETFs.

Each month small revisions to figures have been made since the previous press release. This reflects additional information received by The Investment Association.

Net retail salescomprise total retail sales minus repurchases (including switches between funds), thus the figures can result in a negative figure or outflow.

* Regional breakdown for equity funds  

The following Investment Association sectors have been grouped together to compile the figures for regional equity sales:

Asia	Europe	Global	Japan	North America	UK
Asia Pacific excl. Japan	Europe excl. UK	Global	Japan	North America	UK All Companies
Asia Pacific incl. Japan	Europe incl. UK	Global Emerging Markets	Japanese Smaller Companies	North America Smaller Companies	UK Equity Income
China/Greater China	Europe Smaller Companies	Global Equity Income			UK Smaller Companies
India/Indian Subcontinent		Specialist
		Healthcare
		Technology and Technology innovation
		Financials and Financial innovation

Direct Channels  

Direct includes sales forces and tied agents, private clients and other direct to investor sales without intermediation.

** The Investment Association's ISA figures are based on information collected from fund companies and five fund platforms (AEGON, Fidelity, Hargreaves Lansdown, Quilter, and Transact) where they are the ISA provider. Fund business through other ISA providers such as wealth managers is not included. The Investment Association's figures cover about three-quarters of the whole of the market for funds held in ISAs.

About the Investment Association (IA):  

The IA champions UK investment management, supporting British savers, investors, and businesses. Our 250 members manage £8.8 trillion of assets and the investment management industry supports 126,400 jobs across the UK.

Our mission is to make investment better. Better for clients, so they achieve their financial goals. Better for companies, so they get the capital they need to grow. And better for the economy, so everyone prospers.

Our purpose is to ensure investment managers are in the best possible position to:

• Build people's resilience to financial adversity
• Help people achieve their financial aspirations
• Enable people to maintain a decent standard of living as they grow older
• Contribute to economic growth through the efficient allocation of capital.

The money our members manage is in a wide variety of investment vehicles including authorised investment funds, pension funds and stocks and shares ISAs.

The UK is the second largest investment management centre in the world, after the US and manages 37% of all assets managed in Europe.

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