Net retail sales of fund of funds soared to their highest ever level in Q3 to £1.4bn, more than four times the £297m recorded in the same period last year.
The most popular fund of funds sector during Q3 was Unclassified, accounting for net inflows of £412.9m, followed by Cautious Managed on £362.3m, according to IMA figures. In total, sales rose 17% on Q2’s figure of £1.2bn. Funds under management for the sector also reached a record high of £39.3bn, which is a rise of 21% on the previous quarter (£32.5bn) and 27% up on Q3 last year. Balanced funds accounted for the majority of funds under management, representing 63% of assets, followed by 19% in Equity funds. The number of fund of funds available has also increased by 49 from the 369 ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
