Fund of funds sales exceed £1 billion for first time in a year

growthFund of funds (FoF) net sales in the UK exceeded £1 billion (€1.2 billion) in the second quarter. The Investment Management Association said this was the first time the sector had exceeded £1 billion in net sales since Q2 last year, though the figure for the year-before period was higher at £2 billion. Funds under management for FoFs totalled £63.6 billion at the end of Q2, accounting for 10.6% of total funds under management. 
 Sales of tracker funds, which have been rising in recent years, were slower, but the sector continued to gather funds under management.  

 Richard Saunders, IMA chief executive, said: “Net retail sales of funds of funds went above £1 billion in this quarter for the first time in a year. While the second quarter saw more subdued sales of tracker funds, their share of total funds under management has been rising for about four years and now stand at 7.5%.” ©2012 Funds Europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.