Fixed income funds saw withdrawals of £1.6bn in October, contributing to the largest monthly net retail outflows since the 2016 Brexit referendum, according to the latest statistics from the Investment Association.
Total net retail sales over the period were negative, with £1.6bn leaving the retail fund sector, driven primarily by declining sentiment towards fixed income. Equities experienced overall inflows of £100m during October, while property funds saw a small volume of outflows at £39m. This latest figures come as a disappointment after the industry reported positive net retail sales of £642m in the previous month, and mark the largest retail outflows since the EU referendum in 2016. The IA saw its first negative outflows of £21m since the EU referendum during August, but had returne...
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