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 had gone 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. Balanced funds, consisting of active, balanced and cautious managed funds, accounted for the highest proportion of funds under management at £1.86bn for the quarter, or 39%. Overall statistics were positive with total funds under ma...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
