Two sets of data that illustrate investor behaviour in the UK around the time of the June Brexit vote showed vastly different levels of outflows.
Morningstar said a net £5.7 billion (€6.7 billion) came out of UK-domiciled equity funds, while the UK funds industry’s trade body, the Investment Association (IA), said the net figure was £2.2 billion.
The IA’s figure for outflows from property funds – a fund category particularly rocked by the Brexit vote – was higher: £792 million of redemptions compared to Morningstar’s £438 million.
The data releases were made this week and it is understood that both organisations are speaking to resolve this.
Morningstar said total net redemptions for UK-domiciled funds in all asset classes stood at £4.7 billion. The IA said there were net redemptions of £506 million.
The IA said funds under management in the UK were at record high of £989 billion.
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