Fofs muster retail inflow of £82.5m

Funds of funds mustered net retail sales of £82.5m in the third quarter as assets under management h...

Funds of funds mustered net retail sales of £82.5m in the third quarter as assets under management hold relatively firm. The overall Fof space shrank by only 5.7% across the quarter, dropping from £33.3bn to £31.4bn, according to Q3 data released by the IMA last week. This nominal AUM loss was largely due to sound fund performance, since the net overall inflow for the period was only £529m. Most of the net inflow was due to internal or 'fettered' sales at £435m. There was a net retail inflow in Q3 of £82.5m - large redemptions cancelled out much of the £1.16bn gross retail sales. ...