Clients of Fidelity's personal investing platform diversified their investments away from technology funds and into defensive strategies in August, sparked by fears over a potential US recession.
The latest figures by Fidelity followed a bumpy month for artificial intelligence-heavy stocks, as investors grew wary of the long-term sustainability of AI growth. Investor sentiment around technology funds cooled considerably in August, the firm said, with popularity among ISA and SIPP investors shifting instead towards money market funds and options providing access to more diversified and defensive assets. Some of the best-selling funds purchased through Fidelity's personal investing platform included four passive strategies, but also a trio of active Fidelity funds such as the Gl...
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