F&C has reacted to what has been described as a "dismal" trading statement by announcing ambitious plans to launch a number of higher fee products, including more hedge funds.
It defended its performance following the statement, issued last week, which revealed retail funds under management at December 21, 2006 were £17bn, a fall from the £17.2bn in December 2005. Total assets under management fell from £131bn in December 2005 to £104bn at the end of 2006. However, F&C reassured retail investors this side of the business remained unscathed. Jason Hollands, head of communications, said: “The pertinent points, from a UK retail perspective, is that net OEIC sales increased by 98pc over 2006 which compares to 87.5pc from the industry as a whole. So we are deligh...
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