Tracker sales hit record high - IMA

Net retail sales of tracker funds in Q1 totalled £661m in what was a record showing for the sector, said the IMA. "This is the highest level we have seen since IMA's analysis of such figures began in 1992," said IMA director of markets Jane Lowe. Tracker funds under management hit £43.3bn at the end of March, accounting for 7.1% of total funds under management - a slight increase on recent quarters. Their share of total gross retail sales also ticked up to 5.6%. Of the 81 Tracker funds, 39 (48%) track major UK indices, mainly the FTSE 100 and FTSE All Share indices. The remainder t...