Investors took almost £7bn out of equity funds in June as recession fears mount, while passive bond sales ventured into positive territory with £1.4bn inflows, data from Refinitiv’s UK Fund Flows report shows.
Gross redemptions were £10.5bn in June, with equities accounting for £6.9bn of withdrawals. Of that figure, outflows of £2.8bn were from mutual funds, with ETFs losing £29m. Last month, there were £1.3bn in net passive inflows compared to £9.3bn in net active outflows. Passive fixed income funds won over equities, with bond mutual funds receiving £1.4bn and ETFs, £939m. Mixed asset funds experienced outflows of £1bn, having garnered £1.8bn inflows last May. Dewi John, head of Lipper UKI research, said that mixed asset flows have been resilient of late, likely from retail investors "d...
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