US equity funds hit by record outflows

US equity funds saw record outflows in February as investors switched out following a run-up in share prices to all-time highs.

After a successful 2013, outflows began to mount in the IMA North America and North American Smaller Companies sectors earlier this year, with net withdrawals of £149m reported in January. The trend continued last month, with outflows of £290m in February, well below the average inflow of £79m for the sector over the previous 12 months. Meanwhile the Asia region also saw record outflows of £260m in February, worse than the £235m outflow in January. The UK All Companies was the best-selling sector in February with net retail sales of £371m, well above its monthly average over the pr...