The most prolonged and most severe bout of equity-fund outflows continued unabated in November. Investors pulled a net £3.02bn from equity funds during the month, the second-worst month on record. This follows October’s worst ever month for equity funds (-£3.63bn) and extends to six months an unbroken run of withdrawals.
Key highlights from this month's FFI:
- November equity fund outflows hit £3.02bn – second worst month on record after October
- Investors have sold down equities for a record six consecutive months, totalling £10.39bn
- Budget-day caused sudden halt to outflows
- Funds investing in the UK and North America saw the largest outflows
- Record inflows to safe-haven money-market funds suggest risk aversion is rife, despite strong equity markets