Fund of fund sales plummet 84% in Q3

The Q3 IMA statistics revealed retail fund of fund sales plunged from the £332.7m recorded in the corresponding period last year – while total funds under management dipped almost £2bn from last quarter, to £31.4bn. Absolute Return was the most popular sector including institutional sales, with a £264.2m inflow in Q3. Tracker fund net retail sales fell to a £33m outflow, following on from the small decline in Q2. Net ethical fund retail sales in Q3 dipped to £20.5m, down from the £49.5m posted in the previous quarter. "Fund of fund sales continue to be positive despite the mixed picture ...