Net sales of ethical investment funds that were open to investors looked positive during the second quarter of 2009, the UK Sustainable Investments and Finance association (UKSIF) has revealed.
The news follows statistics from the Investment Management Association (IMA) that show net retail sales of ethical funds in minus figures for the second quarter of 2009.
However, according to the UKSIF, the negative net sales figure of -£18.4million was caused by a single ethical investment fund closing near the end of the quarter.
Commenting, Penny Shepherd MBE, chief executive of the UKSIF said: "Advisers need to look behind the quarter's headline figures to get the true story. Ethical investors have remained loyal to their funds."
In fact, according to the UKSIF, the negative ethical investment figures were the first since 1992, Ms Shepherd adds:
"IMA data would have shown positive net sales for the quarter if one fund had not returned assets to investors in June, according to our information from product providers. The closure caused an outflow that month after net inflows in both April and May."
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