Tracker funds reported their highest ever net retail sales in Q1, although inflows into ethical products were below recent levels, according to IMA figures.
Net retail sales for the first three months of the year soared by £694m to £824m, compared to just £130m for Q1 2010. Trackers now represent 6.8% of total funds under management; the highest proportion on record. FUM for trackers totaled £39.8bn, up 19% on the same period last year. Meanwhile, ethical funds' net retail inflows dropped to £90m, below the average of £97m for the past four quarters. Ethical funds under management reached £7bn at the end of Q1 2011, up 15% on Q1 2010. Fund of funds continued to grow in popularity, with gross retail sales accounting for £1 in every £8 ...
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