Funds under management fall

24 December 2007 / by None
The latest investment funds data produced by the Investment Management Association (IMA) has revealed that funds under management of UK domiciled funds fell by four per cent last month.

According to the IMA, this sector saw funds total £462.3 billion in November, below the figure recorded a month earlier yet 16 per cent above the amount reached at this time last year.

Meanwhile, UK domiciled individual savings accounts (Isas) under management also fell by four per cent to £53.7 billion.

Richard Saunders, chief executive of the IMA, said that November experienced "record retail outflows", with this "negative trend" also found in the non-UK funds and Isas sectors.

"But money market and balanced funds benefited from this mood of caution," he remarked.

Earlier in the year, Mr Saunders noted that ethical funds experienced "steadily increasing sales" during the third quarter of 2007.

This compared with a "modest slowdown" in net retail sales during the quarter, he stated.

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