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Brexit deal drives flurry of optimism among investors, but sentiment remained fragile in October

Fund Flow Index - November 2019

Welcome to the November edition of the Calastone Fund Flow Index (FFI). A flurry of optimism meant investors hit the pause button on their flight from equity funds in October. Investors also pulled back from bond funds for the first time since January. Despite, however, the change in sentiment, higher risk funds remained firmly out of favour.

Key highlights from this month's FFI:

  • Fixed-income funds see first outflows since January as investors feel less need for a safe-haven
  • Brexit newsflow drove the change – a Brexit agreement with the EU sparked sudden outflows from bond funds and a modest inflow into UK equities
  • Equity fund flows turned positive in October for the first time in four months – but only by a small amount
  • Active funds continued to see outflows, while passive funds saw inflows. The trend, however, was less strong than in previous month.
  • Property funds extended their record run of outflows