Many of the company results and trading statements over the past few weeks have all shared one common thread, that worries about the upcoming Autumn Budget are contributing to high levels of outflows from UK-based assets.
Brooks Macdonald, Liontrust and Premier Miton all linked the negative outflows in their respective statements to ‘investors' anxieties' about the Budget on 30 October. AJ Bell's CEO Michael Summersgill noted that there had been a "noticeable change in both customer contributions to pensions and tax-free cash withdrawals" from the platform ahead of the Budget. Friday Briefing: The inflation battle may not be fully won yet Our news editor Valeria Martinez touched on this UK outflows phenomenon in her previous Friday Briefing, after investors pulled £666m from UK equity funds in Septe...
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