'Nervous' investors retreat despite record month for active ESG equity funds

Savers 'adding to rainy day funds'

Nervous investors pared back their fund buying in September as they "add to their rainy-day funds and fret about taking on more investment risk at a time of such uncertainty", according to global funds network Calastone.

Fund inflows across all asset classes in September were just £1.1bn, the firm said in its latest fund flows index, despite equity funds seeing their highest level of buying since May. Investors poured £385m into equity funds - the highest level in four months - as global stockmarkets continued to rally, but a pull back in recent weeks halted momentum. Consistent 50: Trojan Income enters in second place Indeed, Calastone's data show the majority of the buying took place in the first four days of September. Less than £400m came in during that period, with around £200m in the first we...