Fund of funds and trackers saw strong Q2 sales this year but interest in ethical funds fell away, according to IMA figures.
Net sales of tracker funds were £260m from April to June this year, compared to -£31.6m in Q1 and -£1.8m in Q2 last year. Meanwhile net sales of funds of funds almost trebled to £1.2bn during Q2 this year, from just £423.8m in the first three months of the year and £1.1bn in Q2 2008. The Cautious Managed sector proved the most popular for the multi-manager products, with net inflows of nearly £350m, followed by Balanced Managed on £337.5m. But net sales of ethical fund were down over the quarter, with outflows of £18.4m from a net inflow of £45.9m in Q1.
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