FoFs sales reach record high in Q2 - IMA

Fund of funds recorded their highest ever quarterly net retail sales in Q2 at £2.3bn, according to the IMA.

This was double the sales for both the previous quarter and Q2 last year, with new offerings making a significant contribution. FoFs accounted for almost 10% of gross retail sales, while assets under management in the vehicles were £46.3bn at the end of the second quarter, up 40% on Q2 last year. The balanced asset class accounts for the highest proportion of funds under management for FoFs at 60%, but this is down from 62% in the previous quarter and 63% a year ago. In terms of net retail sales, the Unclassified sector had the largest inflows at £1.5bn, accounting for 51% of all n...