UK retail funds experienced net outflows for the fifth month in a row in February, according to the latest figures from the Investment Association, as cautious savers shunned equities once again.
Overall, UK authorised and recognised funds suffered net outflows of £156m in February for the fifth month in a row, signalling a huge drop in sentiment compared to the same month last year, which saw net sales of £1bn. Equity funds experienced the highest withdrawals of £446m, with European and UK equity products particularly hurt by the current political tensions over Brexit, reporting outflows of £453m and £236m respectively. The only asset classes that did not see overall outflows during the month were Mixed Asset, which was the bestseller with £385m in sales, and Fixed Income, wh...
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