The UK fund industry has recorded its largest ever monthly net outflows as March 2020 saw £8.7bn leave UK-domiciled funds, a figure £1.7bn higher than the worst month during the Global Financial Crisis, according to the latest fund flow data from Morningstar.
Fixed income funds took the greatest hit, also recording their highest ever net outflows in a single month as £5.5bn flooded from bond funds as interest rate cuts and increased central bank spending failed to soothe investors. BlackRock's passive offering across GBP corporate-bond, GBP government-bong and GBP inflation-linked bond categories accounted for nearly 20% of total fixed income outflows, with the largest net redemptions coming from iShares UK Gilts All Stocks index, which suffered outflows of £704m. However, Allianz Strategic Bond bucked the trend, seeing net inflows of £330...
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