Net retail sales for UK-authorised funds were at their lowest point in 18 months in June, reflecting investor uncertainty amid a "continued uncertain political landscape" and trade war fears, according to the Investment Association.
The IA's latest figures reveal the lacklustre June sales total of £840m nudged up total industry AUM to £1.2bn, as investors continued to withdraw assets from the beleaguered UK equity and European equity funds. 'Trump is both a saint and sinner!': LatAm funds dominate top-performing funds in July Alastair Wainwright, fund market specialist at the IA, said the fall in sales could be attributed to "a continued uncertain political landscape and the possibility of a trade war". UK equity funds saw June withdrawals of £280m, bringing average monthly losses over the last 18 months to £4...
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