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Record ISA Season: Booming Inflows to Equity Funds Soar to 5x 2023 level

Fund Flow Index - May 2024

UK investors shrugged off faltering equity markets and the sagging bond market in April, adding a net £1.93bn to equity funds and £422m to fixed income funds. Meanwhile, mixed asset funds enjoyed their first month of inflows after eleven consecutive months of net selling.

Key highlights from this month's FFI:

  • ISA season strongly influenced investor activity in April – it was a record ISA season, with inflows to equity funds 5x larger than 2023
  • April equity fund inflows slowed compared to the first three months of the year, but remained very high
  • Investors were choosy in what equity funds they invested in – Global, North America and European funds are in favour, while Emerging Markets and UK are out.
  • Index funds are still driving much of the inflows
  • Fixed income funds saw inflows despite falling markets
  • Money market funds see outflows as investors opt to take on more risk