Fund of funds assets top £29bn by end 2006

Fund of funds assets under management reached £29bn in the fourth quarter of 2006, an increase of 24...

Fund of funds assets under management reached £29bn in the fourth quarter of 2006, an increase of 24% from the same period the previous year. According to figures from the IMA, Balanced Managed funds accounted for the majority of these assets under management at 68%. Net retail sales of funds of funds over the entire year reached their highest recorded level with inflows of £2.9bn. The figures show 75% of total net inflows into funds of funds in the fourth quarter were invested in unfettered vehicles. Over the three-month period the most popular fund of funds sector was Cautious Managed, ac...