The latest figures from the UK Investment Management Association show ethical funds under management in the second quarter up to £5.6 billion ($11.4 billion), an increase of 32 per cent on the same quarter in 2006. Retail sales saw a net inflow of £138 million, compared to an inflow of £100 million in the first quarter; the same quarter the previous year saw an inflow of £26 million. Tracker funds under management in 2007 reached £27 billion, an increase of 4 per cent from the first quarter and 18 per cent from the £23 billion in the second quarter of 2006. Retail sales saw a net outflow of £12 million in Q2 2007, compared with an outflow of £4 million in Q1; the same quarter the previous year saw an inflow of £27 million. Funds of funds under management at the end of Q2 reached £33 billion, up from £30 billion at the end of the previous quarter and an increase of 30 per cent from the same quarter in 2006. Balanced funds accounted for the majority, representing 69 per cent of assets, followed by 18 per cent in equities.