Equity strategies recorded their first inflow since February in November and their first inflow in conjunction with fixed income funds since December 2021, according to Morningstar.
The latest Morningstar UK fund flows data for November 2022 showed that equity strategies registered net flows of £2.3 billion, while fixed income attracted inflows of £1.9 billion.
By contrast, money market funds saw their highest outflows since February 2020, with £1.6 billion pulled from these strategies last month.
Of the fund groups, BlackRock recorded its most significant monthly inflow in more than two years of £1.5 billion. Regarding inflows, Aviva Investors and Legal & General Investment Management were not far behind, with inflows of £957 million and £939 million, respectively.
However, Columbia Threadneedle Investments saw its largest outflow of the year, shedding £403 million.
The report revealed that of the funds with the largest net flows in November, UK equity strategies experienced three of the largest outflows, including the £22.2 billion Fundsmith Equity fund, which saw investors pull £187 million.
US equity funds attracted significant assets during the month, with the newly-launched Hargreaves Lansdown US fund clocking up the largest inflow in November, at £613 million.
Not far behind was the £12.7 billion Vanguard US Equity Index Fund and the £9 billion HSBC American Index Fund, registering net flows of £169 million and £180 million, respectively.
Among Morningstar categories, sterling corporate bond funds had their fourth month of inflows, while US large-cap blend equity gathered significant inflows for the second consecutive month, taking in £1.6 billion in November alone.
The UK Fund Flows report is authored by Jack Fletcher-Price, associate analyst, manager research, at Morningstar.
