FACTBOX-UK fund launches and closures in 2008

July 14 (Reuters) - Britain's Investment Management Association this week
published its annual review of the industry, highlighting trends dominating the
industry. [ID:nLE321206] [ID:nLE462188]

The survey highlights an increased level of fund launches during a difficult
2008 and notes that consolidation among funds after the 2001 downturn was
delayed until 2003.

The IMA quotes one respondent as saying: "There are just too many funds out
there."

Following is a table with details of fund launches and closures in the UK
from 1999 to 2008, a look at the market share of new retail funds launched last
year and a table of the fund types attracting most inflows and outflows, all
sourced from the IMA.

Fund launches and closures

YEAR LAUNCHES CLOSURES NET MOVE FUNDS TOTAL
2008 250 146 104 2,529
2007 229 139 90 2,425
2006 191 145 46 2,335
2005 228 273 -45 2,289
2004 203 189 14 2,334
2003 201 340 -139 2,320
2002 257 266 -9 2,459
2001 245 327 -82 2,468
2000 258 145 113 2,550
1999 292 201 91 2,437

Net sales of retail funds launched in 2008

FUND TYPE MARKET SHARE
Balanced 26.0 percent
Guaranteed/Protected 23.0 pct
Other 18.0 pct
Bonds 13.0 pct
Absolute Return (UK) 9.0 pct
Global equity 9.0 pct
UK equity 2.0 pct

Best and worst selling fund sectors in 2008

TOP NET SALES NET SALES% TOTAL AUM AUM%
Corporate bonds stg 1.52 trln stg 39 percent 31.39 trln 9 percent
Absolute Return 1.44 trln stg 37 pct 3.42 trln 1 pct
Specialist 0.99 trln stg 25 pct 8.51 trln 2 pct

BOTTOM
Europe Excl UK -1.95 trln stg n/a 26.01 trln 7 pct
UK All Companies -1.36 trln stg n/a 74.91 trln 21 pct
Unclassified -0.48 trln stg n/a 16.00 trln 4 pct
(Compiled by Joel Dimmock)
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