Net Isa sales down over 2002 by 28%, says IMA

funds under management drop from £236bn to £195bn as investors remain cautious

Net Isa sales over 2002 fell by 28% from 2001, as IMA figures show a fall from £6.7bn to £4.8bn, with UK corporate bond funds the most successful at pulling in assets. Funds under management ended the year 17% down from the start of the year, dropping from £236bn to £195bn. Having grown steadily over the 1990s, assets under management have fallen off since 2000, although they have not reversed too much of the growth seen over that decade as assets remain above 1998 figures. For the second year running bond and equity income portfolios have been the most popular vehicles for cauti...