Tracker funds reported their highest ever net retail sales in Q1, although inflows into ethical products were below recent levels, according to IMA figures.
Net retail sales for the first three months of the year soared by £694m to £824m, compared to just £130m for Q1 2010. Trackers now represent 6.8% of total funds under management; the highest proportion on record. FUM for trackers totaled £39.8bn, up 19% on the same period last year. Meanwhile, ethical funds' net retail inflows dropped to £90m, below the average of £97m for the past four quarters. Ethical funds under management reached £7bn at the end of Q1 2011, up 15% on Q1 2010. Fund of funds continued to grow in popularity, with gross retail sales accounting for £1 in every £8 ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
