Retail sales of ethical funds saw a net outflow in Q2 2009 of £18.4m, compared to an inflow of £49.5m the previous year.
The data also shows that funds under management for funds of funds dropped 3 per cent in the second quarter of 2009 to £32.5bn compared to the same period in 2008.
Balanced funds accounted for 65 per cent of funds under management followed by 19 per cent in equity funds.
Total net sales reached £1.2bn in Q2 2009, up from the £1.1bn recorded in Q2 2008. Most of the net sales were of funds that invest externally.
According to IMA, the most popular sector in the second quarter this year was cautious managed, accounting for net inflows of £347.5m, followed closely by balanced managed with a net inflow of £337.5m.
Tracker funds under management in Q2 2009 reached £21.5bn down 10 per cent from the £23.8bn recorded in the second quarter of 2008.
Retail sales in this area saw a net inflow of £258.9m compared with an outflow of £1.8m the previous year. The most popular distribution channel for tracker gross retail sales was intermediaries, accounting for 61 per cent of sales.