Brexit prompts $350m outflows from UK equity funds on Monday alone

$14bn also pulled from global equity ETFs after vote

UK equity ETFs suffered outflows of $350m on the second trading day after the Brexit vote, while investors pulled $14.2bn from global equity vehicles on the day of the EU referendum and the two following trading days, according to data from EPFR and Markit.

The data, compiled by the FT, showed deep risk aversion among investors as the UK voted to leave the European Union. In the days that followed, $3trn was wiped off stockmarkets, sterling fell to a 31-year-low and 10-year gilt yields dropped below 1% for the first time on record. Markit reported global equity ETFs suffered heavy outflows on the day of the vote and on the two following days, during which $14.2bn was withdrawn. UK retail investors ditch property funds after Brexit vote On Monday, EPFR said $350m was pulled from UK equity ETFs alone, the second largest outflow of th...