Outflows from UK Equity funds halved in November, according to the latest statistics from the Investment Association (IA), while tracker funds saw their lowest sales since July 2016.
The trade body's monthly statistics showed funds under management were £1.2trn, up from £1trn in November 2016, and total net retail sales were £4.4bn, down from £5bn in October but significantly up from £1.7bn a year ago. Some £713m was invested in equity funds, particularly the Europe ex UK, Global and Japan sectors. UK equities saw an improvement from October with outflows from UK All Companies and UK Equity Income funds of £203m compared to £496m in October. However, this did not stop the UK Equity Income sector from being the second worst-selling sector with outflows of £121...
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