UK - Institutional sales seem to have recovered a fraction in the UK, as there were net inflows of £502.5m (€637m) in February, compared to outflows at the beginning of this year.
The Investment Management Association (IMA) shows in its latest markets statistics update January's institutional outflows of £187.4m had seen a turn for better with inflows of £502.5m in February - a rise of almost 12% compared to February 2007.
Total assets under management in UK-domiciled investment funds rose 2% to £441.3bn in February, albeit is below the £443.9bn level at the same time last year, said the IMA.
Total overseas domiciled funds under management grew to £16.4bn, up from £14.2bn in February 2007.
Institutional sales in overseas domiciled funds saw further outflows of £224m, compared to January's £94.9m.
Equity funds now account for £305.1bn, or almost 70% in assets under management, after attracting £286m. Bond funds have just under £80bn, amounting to just over 18% of the total.
IMA collects and publishes monthly statistics and quarterly statistics for UK unit trusts and open-ended investment companies (OEICs).
If you have any comments you would like to add to this or any otherstory, contact Carolyn Bandel on +44 (0)20 7261 4622 or email carolyn.bandel@ipe.com
No comments yet