Sales of ethical funds are 'steady'

07 November 2007
The latest investment fund statistics produced by the Investment Management Association (IMA) have shown that sales of ethical funds have increased.

During the third quarter of the year, ethical funds under management stood at £5.8 billion, representing a 28 per cent increase on the figure recorded during the corresponding period in 2006.

Meanwhile, retail sales experienced a net inflow of £135.5 million, which despite being lower than the amount recorded in the second quarter, was significantly higher than the £23.1 million invested last year.

Richard Saunders, chief executive of the IMA, said: "The third quarter showed a modest slow down in net retail sales across the board, affecting most asset classes as well as funds of funds."

However, ethical funds are seeing "steadily increasing" sales, he added.

In related news, the Friends Provident ethical concerns barometer found that provision for the elderly, war and immigration were the biggest issues for those the firm surveyed in October.

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