The new year kicked off “without a bang” for the UK funds industry, according to the latest data from Morningstar.
Just £143m net was invested in the UK-domiciled fund market in January, excluding money market funds. Money market funds were more in favour. Including investment into the category, flows for the UK fund industry totalled £443m, with two-thirds tied up in money market vehicles. Bhavik Parekh, manager research analyst and author of the report, said: "Allocation and fixed-income strategies maintained their runs of inflows. US Treasuries and UK gilts saw their yields bounce in December and January after their respective central banks announced rate increases, and investor interest within...
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