Members of the Irish Association of Investment Management (IAIM) managed €19 billion of assets in retail products at the end of December 2003, an increase of 17 per cent on the December 2002 level, according to the association’s latest survey on trends in the retail market.
Net cash flows of €1.9 billion were invested in retail products during 2003, an increase of 34 per cent on the volume of assets invested in 2002. Of significance, net flows into unit-linked funds in 2003, was 14 per cent higher than in 2000, when stockmarkets peaked.
Flows in to SSIAs continued to be strong, accounting for almost a quarter of the total invested in retail products in 2003. PRSAs, appeared on the survey for the first time, and contributed a net inflow of €32 million.
Total assets under management by IAIM members, which includes companies such as AIB Investment Managers, Bank of Ireland Asset Management and Irish Life Investment Managers Ltd was €188 billion as of the end of 2003, of which €76 billion were assets managed on behalf of domestic clients. |
