Every asset class suffers outflows in second worst month on record

According to figures from the Investment Association, investors pulled a net £2.3bn from equity funds, with globally diversified equity the worst performer, contributing £1.3bn of outflows alone. IA chief executive Chris Cummings explained this flight from equities indicated investors were looking to "better balance their savings" as higher rates challenge the performance of high-growth companies. Money market funds also suffered outflows in excess of £1bn, with IA Short Term Money Market the worst selling IA sector, contributing £810m to the total £1.1bn outflows from the asset class...