The retail market did particularly badly with £440.9m of net sales compared with £1,468.3m the previous August. In contrast net institutional sales were up on last year at £366.6m compared with only £43.5m last year.
The falls mark the continuation of a trend that has been apparent for a while. Sales of funds have fallen along with declines in the stockmarket.
There also seems to be some change in the relative popularity of different AUTIF sectors among Individual Savings Account (ISA) investors. Income sectors such as UK Corporate Bond, UK Other Bond and UK Equity Income were all more popular in relative terms this August than t
he previous one. In contrast the Europe ex UK sector accounted for only 8% of ISA gross sales compared with 15% the previous August.
Provisional estimates indicate that there was a downturn in both sales and redemptions following the September 11th attack on the US.
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