F&C retail fund sales up 28% in 2007

Retail inflows hit £703m last year – with multi-manager, ethical, corporate bond, UK and Asian equity funds proving popular. F&C says the result has added significance as UK domiciled retail fund sales declined by 38% in 2007, according to the IMA. The company turned around last year’s £30.5m before tax loss, by posting a £25.9m profit. The board recommends a 4p final dividend, payable on 16 May to shareholders on the register at 11 April. F&C chief executive Alain Grisay says while the firm has made good progress, a deteriorating economic environment and volatile markets present challen...