UK equities took another big hit in October with funds representing the asset class suffering net retail outflows of £444m in the month, according to the Investment Association (IA).
Continuing their six-month run of retail net outflows, the IA UK Equity Income sector was the worst selling, losing £272m while UK All Companies suffered a comparable £224m of outflows. On the flipside, fixed income was the best-selling asset class, with net retail sales of more than £2bn in October, contributing to an overall increase in UK funds under management (FUM) of £29bn in the month. The latest statistics show IA £ Strategic Bond as the best-selling sector with net retail sales of £1.6bn, while IA Targeted Absolute Return took £400m. IA Global and Global Bonds received £34...
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