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Buyers of equity funds sit on their hands for fourth month, but UK-focused funds buck the trend

Fund Flow Index - April 2019

In March, the buyers' strike among investors in equity funds continued, with investors adding a net of just £74m to their equity fund holdings, resulting in an FFI: Equity of just 50.2 (a reading of 50 indicates that buys equal sells). This was the 9th weakest monthly inflow for equity funds since FFI records began.

  • Equity funds see just £120m of inflows in four months – equivalent to a typical single day of inflows in December 2017
  • UK funds buck the trend, seeing inflows accelerate as investors increasingly recognise how cheap UK assets have become
  • European funds remain very firmly out of favour with March being the 11th consecutive month to see outflows
  • Risk aversion rises significantly as higher risk funds see largest outflows since 2016