F&C Asset Management upbeat despite £53m outflows

F&C Asset Management suffered a £53m net retail outflow in the first quarter of the year. In its ...

F&C Asset Management suffered a £53m net retail outflow in the first quarter of the year. In its interim management statement released this morning, F&C reveals it had £116m of outflows and £63m of inflows in its retail fund range over Q1. The manager's mutual fund assets under management slipped from £2.2bn in December 2008, to £2bn at the end of March. At an overall group level, the company experienced net outflows of £1bn over the quarter. This has eased slightly from the £1.7bn net outflow during the same period last year, and £4bn of net redemptions in the final quarter of 2008. ...