Consumer interest in FoFs gains ground

A survey into assets managed in the UK by its membership reveals fund of funds assets now total £23bn, having risen 56% year-on-year, while net retail FoF sales increased 67% in 2005. Fund of funds net retail sales reached £2.3bn last year, accounting for 27% of all retail sales in 2005, and is double that of the market 10 years ago, according to the Investment Management Association’s asset management survey of 53 firms and data compiled by the investment body. More specifically, the IMA says balanced managed funds represented the majority of funds under management and the split betwee...