06 August 2009 / by Rebecca Sargent
In fact, ethical investment funds saw a net outflow of £18.4million in the second quarter of 2009, compared with an inflow of £45.9million during the first quarter – the first outflow since records began in 1992.
However, despite the outflow, total ethical investment funds under management totalled £4.5billion in the second quarter of 2009, up from £4.1billion the quarter before.
The figures also showed that the number of overall investment funds under management increased by 15 per cent in quarter two compared with the previous quarter, with balanced funds accounting for 65 per cent, and equity funds representing 19 per cent.
Commenting on the results, Jane Lowe, director of markets at the IMA said: “In line with overall net retail sales, funds of funds saw record net retail inflows in quarter two.
“Although only a small proportion of funds under management, ethical funds by contrast saw their first net outflow since records began in 1992.”
© Fair Investment Company Ltd