Net retail sales of tracker funds hit a record high of £1.9bn last year, up some £200m on 2010, according to the Investment Management Association (IMA).
Funds under management in the funds of funds category also broke records, reaching £60.2bn, an increase of nearly £4bn from 2010. Net retail sales were the second highest on record though, down on 2010's £6.5bn. Richard Saunders [pictured], IMA CEO, said: "Funds tracking equity indices accounted for 8% of total equity fund sales, the highest level since 2003," he said. He added trackers' share of total funds under management was also the highest on record at 6.8%. Investors added £5.2bn of funds of funds to their portfolios in 2011. Saunders said: "In gross sales terms, £1 in ev...
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