Multi-manager growth hides a dearth of fettered products

fund of funds

ma figures reveal 100% rise in fof assets under management over past 15 years

Funds of funds (Fof) are taking an increasing proportion of retail sales, although inflows into fettered products have halved from 2004 figures, the IMA's first figures on the sector have revealed. In its quarterly statistical report, which the IMA has published for the first time, it shows that over the three months to the end of September 2004, net Fof sales totalled £297.6m with £22.3m going to fettered vehicles and £275.3m to unfettered. During the same period this year, total net Fof sales came to £733m with externally invested funds accounting for £606.1m and internally invested pr...