Investors have piled out of UK and European equity funds amid the market turmoil and sought safe havens in money market and bond funds, according to activity on platforms over the past week.
Switching activity data on FundsNetwork last week shows investors moved out of UK Smaller Companies, UK All Companies, UK Equity Income and Europe ex UK funds. The top destination was UK Money Market funds as investors looked to de-risk their portfolios, with Strategic Bond the third most popular sector. Amid market turmoil in Europe and the US, FundsNetwork clients also sought shelter in global equities with Asia Pacific ex Japan the second most popular switching destination and Global Growth the fifth most in-demand sector. Last week also saw significant uptake in sales of Cautio...
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