Fund sales highbolstered by open architecture

Gross retail fund sales reached an all-time high in the fourth quarter of 2006 buoyed by growth in o...

Gross retail fund sales reached an all-time high in the fourth quarter of 2006 buoyed by growth in open architecture life and pensions products. According to the latest Pridham Report on UK fund sales, gross figure stood at a record £15.8bn over the three-month period, while net retail sales for the whole of 2006 were £15.3bn, the second highest this century. FERI Fund Market Information, which publishes the Pridham Report, said UK investors werewilling to step back into equities after the stock market blip last November. Bella Ferreira, of FERI, said: "We expected modest sales volumes i...