FoFs under management hit £30bn in Q1

Funds of funds under management hit £30bn for the first time in the first quarter, representing an i...

Funds of funds under management hit £30bn for the first time in the first quarter, representing an increase of 17% from Q1 2006. According to IMA quarterly funds of funds, tracker and ethical data statistics, FoF assets under management at the end of Q1 were up £1bn from the previous quarter while ethical funds passed the £5bn total. Richard Saunders, chief executive at the IMA, said the net retail ethical funds inflows of £100m were also the highest for almost five years. Total net sales for funds of funds were £821m in the first quarter of 2007, up from £729m in Q4 2006, but down 12...