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Ethical bright spot for funds

Ethical fund business soared by 350 per cent last year to hit a record £473m net retail sales from £136m in 2006.

Figures from the Investment Management Association show ethical net retail business was £99.7m in the final quarter, almost double the 2006 figure of £52.6m, but down from £135m in the third quarter last year.

Overall net retail fund business collapsed in the last quarter to £216m from £2.63bn in the third quarter 2007 and £3.86bn in the final quarter of 2006.

Net retail Fof sales in the final quarter fell sharply to £343m from £610m in the corresponding period of 2006. Total net retail Fof sales for the year nearly halved to £1.6bn from £3bn in 2006.

Chief executive Richard Saunders says: “Performance figures continue to show the benefits of investing for the long term, with the average investment in a UK all companies fund returning 80 per cent over the last 10 years.”

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