Fidelity International response to the IMA monthly investment fund statistics

In response to the Investment Management Association (IMA) monthly investment fund statistics (November 2006) released today (3 January 2007), Richard Wastcoat, UK Managing Director, Fidelity International, commented:

“Despite a small dip in sales of investment funds in November last year, overall 2006 experienced the strongest ISA season since 2002, and now looks set to be one of the best years for gross retail investment sales across the industry. Investors have had greater confidence in the stockmarket over the last 12 months and are excited about the long term prospects for their investments, particularly with the increased flexibility and commitment from the Government to the continuation of ISAs.

“Research commissioned by Fidelity last year confirmed a broad recovery in investor sentiment with nearly a third of savers polled more upbeat about the prospects for shares than they were in 2005. Reflecting industry trends, statistics from Fidelity FundsNetwork also showed people investing in a wider range of funds in 2006, with strong sales for income funds, property, multi-manager, natural resources and European growth funds.

“It is no surprise to see that the most popular distributors of ISAs throughout most of the last year and in November in particular, were fund supermarkets. The ease of being able to invest from the comfort of your own home is very appealing. Add to this the increased flexibility, lower charges and fund choice offered, and buying an ISA through an investment supermarket, like Fidelity FundsNetwork, becomes a really compelling option for many investors.”