UK retail investors are pulling out of property and UK equity funds in swathes, switching to global and Japan equities, following the UK's decision to leave the European Union, according to an online investment platform.
Analysis by rplan.co.uk revealed the number of trades on its online investment platform was up 175% over the weekend following the Brexit vote versus the previous weekend. It also showed 76% of withdrawals were from property funds and 22% from UK equity funds. The volume of switching between funds was 4.5 times higher than the previous weekend. The sectors seeing the biggest inflows included global equities (56%), Japan equities (20%), UK equities (16%) and North America equities (5%). Henderson cuts UK Property fund price by 4% on Brexit volatility Stuart Dyer, CIO at rplan.co....
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