Retail funds of funds sales plummet

Retail sales were also down significantly from the £503.8m achieved in Q2. Total funds under management remained at a healthy £31.4bn, through this was down from the £33.3bn seen in the previous two quarters. Balanced funds accounted for the majority of funds under management, representing 65pc of assets, followed by 19pc in equity funds. Retail sales of tracker funds also suffered in Q3, with a net outflow of £33m, compared with an outflow of £1.4m in Q2. The same quarter the previous year saw an outflow of £30m. The most popular distribution channel for gross retail tracker sales was in...