Investor redemptions from UK equities surged in September, figures from the Investment Association (IA) show, and indicate a move towards global shares.
Retail investors actually placed a net £664 million (€738.4 million) in investment funds of various types during the month – but they pulled £620 million out of UK equity funds.
This is a dramatic increase compared to August when investors withdrew £120 million out of the asset class.
Outflows from European equities reached £192 million – but global equities saw inflows of £447 million.
Mixed asset fund flows performed best in September with £374 million worth of sales, closely followed by tracker funds with £351 million.
“Year to date there has been a net retail outflow of £1.6 billion across the industry, however, the growth in underlying asset values has increased industry funds under management by £85 billion in 2016 so far,” said Chris Cummings, chief executive of IA.
©2016 funds europe
