Investors pulled a net £1.2bn out of UK-focused equity funds between June and August on no-deal Brexit worries, according to data from funds network Calastone, making it the worst three-month period of outflows from UK-focused equity funds on its record.
The latest Calastone Fund Flow Index found that since June, equity funds without a specific UK focus enjoyed their second-best three-month period in almost two years, with investors adding £1.6bn to their non-UK holdings between June and August. According to Calastone, UK funds have now done worse than those investing elsewhere for five months in a row. The index showed that equity income funds also had their worst ever three-month period due to their heavy weighting to UK equities. Its analysis of Investment Association data suggested that approximately three-quarters of equity in...
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