IA reports first monthly retail outflows since Brexit vote

Europe and UK equities were worst affected by negative sentiment which meant total funds under management for the IA universe remained flat at £1.2trn.  UK equity funds, which combine the IA UK All Companies, UK Equity Income and UK Smaller Companies sectors, saw further outflows of £429m, up from outflows of £315m in July.  In particular, the UK All Companies sector was the worst-selling sector overall with outflows of £356m.  European equities was also out of favour with £303m of redemptions, nearly double the £156m outflows reported in July.  Instead, investors were favouring...