UK equity funds saw net retail outflows of £315 million (€350 million) in July as investors increasingly moved their money into fixed income and mixed asset funds, according to data published today by the Investment Association.
Outflows were also experienced in European equity funds (down £156 million) and North American equity funds (down £256 million) but at a lower level than worst-performing UK equities, which also experienced outflows of £280 million in June.
Net retail sales were positive in July with an additional £977 million invested into UK authorised funds, and funds under management totalling £1.3 trillion.
Global funds was the best-selling sector with net retail sales in July of £507 million, followed by Asia funds (£72 million) and Japan funds (£1 million).
Chris Cummings, chief executive of the Investment Association, said: “Amid trade tensions, the story remains one of equity outflows and waning risk appetite.
“Within the equity sectors, the UK is still firmly out of favour amid Brexit uncertainty, with outflows totalling £3.5 billion since the beginning of the year.”
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