Outflows from retail tracker funds hit £12m in Q2 this year, compared to just £4 million in Q1.
The IMA quarterly investment fund statistics showed investor confidence is much lower in trackers compared to the corresponding quarter last year, which saw inflows of £27m.
It was better news for ethical funds, with Q2 retail sales inflows of £138m, up from £100m in Q1 and £26m in Q2 2006.
Net funds of funds sales were almost at the same level last year, reaching £1.2bn in Q2, up from £820m in Q1.
Funds of funds under management hit £33bn at the end of Q2, up from £30bn for the previous quarter and a 30% increase from Q2 2006.
"Against a background of improved total net retail sales this quarter compared to last quarter, net retail sales of funds of funds have also picked up,” IMA deputy chief executive Sheila Nicoll says.
“Net retail sales of ethical funds have seen large increases every quarter for the last year, with sales in this quarter alone surpassing those for each of the last four years."
To comment on this story, contact:
0207 034 2681
Feasibility study due
'Let’s be bold enough to demand change'
Joint life second death option added to relieve tax burden on couples gifting assets
Backed by Schroders, LGIM and the IA
New system for funds without without three-year track record