Fund of funds sales almost halve in '07

Funds of funds net sales in Q4 2007 also dropped significantly on the same period the previous year, 44% lower to £343.2m. The Cautious Managed sector was the most popular for fund of fund investment in 2007, accounting for £1.6bn of total retail and institutional sales. Tracker fund retail sales continued to decline, with outflows of £110m last year, following on from outflows of £239m in 2006. Most of the outflows expectedly came in the second half of the year, with £59.6m retail sales outflows in Q4 and £30m outflows in Q3. However, ethical funds continued their rapid rise, with 2007...