UK investors pulled £642m out of retail funds in January, the highest level of outflows since March 2020, according to Investment Association data.
Equity fund outflows totalled £1.3bn over the month, driven partially by outflows from UK funds, which climbed to £1.6bn, and North American funds, but were offset by inflows into global funds. Funds under management declined from £1.59trn, to £1.51trn over the month. As UK investors prepared for repositioning, they turned to money market funds with inflows of £820m, making it the bestselling asset class. Responsible funds also had high inflows, totalling £743m, though oil and gas stocks also performed well. UK retail fund sales sink to lowest level since September 2020 "Risi...
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