Ethical funds see 'steady' growth

Tue, 06 Nov 2007

The latest investment fund data published by the Investment Management Association (IMA) has revealed that ethical funds saw significant growth during the third quarter of the year.

According to the association, ethical funds under management stood at £5.8 billion during the last quarter, representing a 28 per cent increase on the figure recorded during the corresponding period in 2006.

However, retail sales of ethical funds experienced a net inflow of £135.5 million, down from £137.7 million in the previous quarter.

Richard Saunders, chief executive of the IMA, said that the third quarter saw a "modest slowdown" in net retail sales in most sectors.

However, ethical funds are "steadily increasing sales, albeit from a low level", he claimed.

Friends Provident recently reported that its ethical concerns barometer showed that the UK's top ethical issues included provision for the elderly, war and energy conservation and renewable energy .
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