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Property funds take £956bn in record-breaking quarter

Property funds accounted for 21 per cent of net retail fund sales in the first nine months of this year and the sector attracted record net retail inflows of £956m in the third quarter.

The Investment Management Association says net retail inflows into property funds were £2.4bn in the first nine months of this year, beating the next best performing sector, UK equity income, by 6 per cent.

Ninety-one per cent of all property fund sales were made through intermediaries.

Cautious managed was the most popular fund of fund sector, accounting for total net inflows of £225m in the third quarter.

Retail fund of fund inflows slowed slightly in the third quarter but still represented a fifth of all retail inflows over the last nine months.

Ethical funds under management rose by 21 per cent in the year to £4.5bn in total although net retail sales in the third quarter were down by 12 per cent on the previous quarter at £23m and down by 18 per cent on the same quarter in 2005.

The figures also reveal that tracker funds saw outflows of £32m in the third quarter compared with an inflow of £27m in the second quarter . Fifty-one per cent of tracker fund sales were through intermediaries.

Chief executive Richard Saunders says: “The first three quarters of 2006 have seen unprecedented inflows into property funds sitting within the specialist sector, reaching 21 per cent of retail sales so far in 2006.”


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Those with decent-length memories will recall that in the 2014 Budget statement George Osborne announced the new (and entirely unexpected) pension freedoms. The new rules come fully into force in less than two weeks.


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