Retail investors have pulled £2.2bn from UK and European equity funds since the start of the year, choosing to put their money into the IA Global sector and fixed income funds instead, according to the latest figures from the Investment Association.
In March, UK and European equity funds suffered net retail outflows of £445m and £478m respectively, while Europe ex UK was the worst-selling sector with redemptions of £412m. According to Laura Suter, personal finance analyst at AJ Bell, redemptions from UK funds have now hit £12bn since the Brexit vote, "as any resolution on Brexit seems further away than Liverpool's chances of reaching the Champions league final". The Targeted Absolute Return sector was the second least popular last month, with outflows of £401m. Suter said: "Continuing its run of being more unpopular than a cha...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
