Fofs pass £30bn mark

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Funds of funds passed £30bn in assets under management for the first time in Q1, with net sales of £...

Funds of funds passed £30bn in assets under management for the first time in Q1, with net sales of £821m according to the latest IMA figures. Ethical funds under management also passed £5bn for the first time, with net sales of £99.8m almost double those in the last quarter of 2006 and three times higher than the same period last year. On the fund of funds side, net sales were up from £729m in Q4 2006, but down 12% from £936m in the first quarter of last year.

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