Capitulation on the bond markets was heavy, with investors pulling a net £643m from funds, the second-worst figure on record, only beaten by March 2020.
UK-focused equity funds endured the same fate, also chalking up a second-worst month on record, as a net £1.11bn exited the space. The outflows are beaten only by June 2022’s £1.14bn figure, which marks the worst month to date.
According to the report, actively managed funds suffered the brunt of the UK equity withdrawals, shedding £792m over the month.
Inflows into North American funds fell sharply but remained positive last month…
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