Fofs account for 20% of all sales

Fund of funds are now accounting for some 20% of fund sales, according to quarterly statistics from ...

Fund of funds are now accounting for some 20% of fund sales, according to quarterly statistics from the IMA. Funds under management in fund of funds now amounts to £26bn, up from £23bn as at the end of 2005 and while total net sales of these vehicles was down slightly over the fourth quarter 2005 figures, at £921m versus £1.1bn, they were almost two and a half times higher than the £376m seen in first quarter 2005. Balanced funds accounted for the majority of funds under management, representing 69% of assets, followed by 19% in equities, the trade body reported. At the same time the IMA ...