After a surge of investment in the fourth quarter of 2008, net sales of tracker funds fell in the first quarter of 2009, according to quarterly statistics from the Investment Management Association.
Retail sales of tracker funds in the first quarter saw an outflow of £31.7m, compared with an inflow of £279.4m in the fourth quarter of 2008. The fourth-quarter figure was the highest quarterly retail sales for tracker funds since 2002.
Funds under management in trackers totalled £18.3 billion in the first quarter, a decline of 8% from the previous quarter.
Meanwhile, net sales of funds of funds totalled £378.4m in the first quarter, a rise of 65% on the previous quarters total of £304m. This total included £311.5m of net retail sales.
The most popular sector was Cautious Managed, which accounted for net inflows of £154.9m.