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Investment funds down £12.8bn in Q1, says IMA

Total investment funds under management fell by £12.8bn to £347.9bn at the end of Q1 this year from £360.7bn in the previous quarter, according to the latest statistics from the Investment Management Association.

Funds under management in funds of funds have seen a £1bn decline over the last quarter to £28.3bn at the end of Q1 2009 from £29.3bn at the end of Q4, down 14 per cent from the same quarter in 2008.

Balanced funds accounted for the majority of funds under management, representing 67 per cent of assets, followed by 18 per cent in equity funds.

Tracker funds under management in Q1 reached £18.3bn, a decrease of 8 per cent from the previous quarter and 25 per cent down from £24.5bn a year earlier.

Ethical funds under management were £4.1bn down from Q4’s £4.4bn and 24 per cent lower than the £5.4bn seen in the same quarter in 2008.

Retail sales saw a net inflow of £45.2m compared to an inflow of £54.8m in the previous quarter; the same quarter the previous year saw an inflow of £27.6m.

IMA director of markets Jane Lowe says: “Net retail investment in funds of funds has improved considerably since last quarter but is still well below 2008. Ethical and tracker funds are showing slightly atypical trends, reflecting their niche position in the funds market.”

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