Fofs account for 20% of sales

statistics

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

Fund of funds are now accounting for some 20% of sales, according to quarterly IMA statistics. Assets under management in Fofs now amount to £26bn, up from £23bn as at the end of 2005. While total net sales of these vehicles was down slightly over the fourth quarter of 2005, at £921m for the first quarter of 2006 versus £1.1bn for the preceeding three months, they were almost two and a half times higher than the £376m seen in first quarter of 2005. Balanced funds accounted for the majority of funds under management within Fofs, representing 69% of assets, followed by 19% in equity sector...