Quarterly fund statistics for Funds of Funds, Tracker and Ethical data
Quarter 2 2011
The Investment Management Association (IMA) today publishes its figures for Funds of Funds, Tracker and Ethical funds for Quarter 2 2011.*
Key findings:
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Funds of Funds - net retail sales for 1H 2011 the highest on record
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Tracker funds - 6.7% of total funds under management
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Ethical funds - net retail sales of £94 million in Quarter 2 2011, the highest quarter since Quarter 4 2007
Richard Saunders, Chief Executive at the IMA, comments:
"Investors have continued to show appetite for Funds of Funds and the first half of 2011 saw the highest net retail sales of Funds of Funds on record. In gross retail sales terms, £1 in every £8 invested in funds was invested in Funds of Funds in Quarter 2.
"Tracker funds also reported strong sales and have seen their market share approach 7% of total funds under management for the second quarter running.
"Sales of ethical funds in Quarter 2 2011 were the highest since late 2007, though they still represent a modest proportion of total sales."
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FUNDS UNDER MANAGEMENT
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Q2 2011
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Q2 2010
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DIFFERENCE
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Funds of Funds
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£63.5 billion
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£46.3 billion
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+£17.2 billion
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+37%
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Tracker funds
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£40.5 billion
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£30.4 billion
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+£10.1 billion
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+33%
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Ethical funds
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£7.1 billion
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£5.8 billion
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+£1.3 billion
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+23%
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All funds
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£601.0 billion
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£494.6 billion
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+£106.4 billion
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+22%
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RETAIL SALES (NET)
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Q2 2011
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Q2 2010
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DIFFERENCE
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Funds of Funds
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£2,037 million
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£2,112 million
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-£75 million
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Tracker funds
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£313 million
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£329 million
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-£17 million
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Ethical funds
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£94 million
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£53 million
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+£42 million
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All funds
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£7,314 million
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£7,322 million
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-£8 million
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FUNDS OF FUNDS
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Net retail sales of Funds of Funds - the highest 1H on record
In Quarter 2 2011, net retail sales for Funds of Funds totalled £2.0 billion, above the quarterly average of £1.8 billion for the previous four quarters. Net retail sales of Funds of Funds totalled £3.8 billion for the first six months of 2011, the highest 1H on record.
Funds of Funds sales accounted for £1 in every £8 invested in funds (13% of gross retail sales) in Quarter 2 2011. Funds under management for Funds of Funds totalled £63.5 billion at the end of Quarter 2 2011, accounting for 11% of total funds under management.
In Quarter 2 2011, over half of Funds of Funds money was invested in funds run by other firms (external): 59% of gross sales and 52% of funds under management. The total invested in external Funds of Funds at the end of June 2011 was £32.9 billion, up 39% on Quarter 2 2010.
Looking at asset classes for Quarter 2 2011, balanced funds (consisting of Active Managed, Balanced Managed, Cautious Managed and UK Equity and Bond Income) accounted for the highest proportion (57%) of total funds under management for Funds of Funds. Gross retail sales of Balanced funds totalled £1.86 billion in Quarter 2 2011, accounting for 49% of total Funds of Funds gross retail sales.
TRACKER FUNDS
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Tracker funds - 6.7% of total funds under management
In Quarter 2 2011, net retail sales of tracker funds totalled £313 million, below the quarterly average of £515 million for the past four quarters.
Tracker funds under management were £40.5 billion at the end of June 2011, accounting for 6.7% of total funds under management, in line with Quarter 1 2011.
Of the 80 Tracker funds, 43 (54%) track the main UK indices, mainly the FTSE 100 index. The remainder track a wide spread of other equity indices, including European, Global, Asia Pacific and the US.
ETHICAL FUNDS
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Net retail sales of £94 million, the highest quarter since Quarter 4 2007
In Quarter 2 2011, net retail sales of Ethical funds totalled £94 million, the highest quarter since Quarter 4 2007.
Ethical funds under management totalled £7.1 billion at the end of June 2011, up 23% on Quarter 2 2010.
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