Sales of funds of funds reached record highs in the first half of 2011, the Investment Management Association (IMA) has said.
The IMA said £3.8bn of retail money went into funds of funds, driven by a stronger than normal second quarter. Between April and June net retail sales for funds of funds totalled £2bn, above the quarterly average of £1.8bn for the previous four quarters. In total, funds of funds now account for 11% of funds under management across all IMA sectors. Total funds under management rose 22% year-on-year from £494.6bn in Q2 2010 to £601bn in for Q2 2011. Ethical funds also seem to be back in fashion with net retail sales totalling £94m, their highest since Q4 2007. "In gross retail ...
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
