Funds of funds assets up 24% for Q4

Funds of funds assets under management in the fourth quarter of 2006 reached £29bn, representing an ...

Funds of funds assets under management in the fourth quarter of 2006 reached £29bn, representing an increase of 24% from the same period the previous year. According to figures from the IMA, Balanced Managed funds accounted for the majority of funds under management, representing 68% of assets. Total net sales for funds of funds were £729m in the fourth quarter of the year, with net retail sales representing £610m, an increase of 8% on the third quarter but a fall of 6% on the same quarter in 2005. Net retail sales of funds of funds over the entire year reached their highest recorded le...