View more on these topics

Investors diversify and keep Fof sales strong

Funds of funds represented nearly half of total net retail fund sales in the second quarter of this year.

Fofs saw net business of £1.1bn in the three months to June, slightly up from the same quarter last year when the figure was £1bn but a big rise from the first quarter of this year’s figure of £693m.

Total net retail fund business stood at £2.3bn for the second quarter, down from £3.6bn in the second quarter of 2007 but a massive improvement on this year’s first-quarter total of just £190.5m.

Tracker funds saw a net outflow of £700,000 in the second quarter compared with an inflow of £64.3m in Q1 and an outflow of £15.3m in Q2 2007.

Ethical funds had a net inflow of £49.5m in Q2 compared with £27.6m in Q1 and £137.7m in Q2 2007.

Chief executive Richard Saunders says: “Funds of fund sales have proved resilient over the last nine months while retail sales in other sectors have slowed down markedly.

“This almost certainly reflects a wish by investors and their advisers to take advantage of the diversification they can offer in turbulent markets but also reflects a longer underlying trend to invest in this product type.”

Recommended

Invesco Perpetual boosts Asian equities team

Invesco Perpetual has hired Tim Dickson as fund manager within its Asian equities team in Henley. Dickson joins from Scottish Widows Investment Partnership where he was investment director for the global emerging markets and Asian desk. He was portfolio manager for a number of Asia (ex Japan) funds including segregated and standalone mandates and since […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com