UK-domiciled funds have seen £38bn of outflows over the year to 31 May as investors have become increasingly worried about the impact of the impending EU membership referendum.
Figures from Thomson Reuters Lipper show funds within the Investment Association's sectors have seen an overall drop of 18% in total assets over the 12-month period. The worst outflows were seen in January, with nearly £16bn leaving UK funds during this month alone. The UK All Companies sector, which holds some 12% of all IA assets, has been hit with net outflows of £9.2bn over the 12 months, with only one month of positive flows (July 2015). The peer group hit hardest as a proportion of its overall size of the UK market is the Sterling Strategic Bond sector, experiencing outflows ...
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