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Large outflows from UK-focused equity funds staunched as government stabilises

Fund Flow Index - November 2022

UK investors breathed a nervous sigh of relief in October as world markets stabilised. Our Fund Flow Index shows that outflows from equity funds slowed dramatically to £422m in October, having hit records in August and September of £1.9bn and £2.3bn respectively. There were significant differences between equity funds focused on particular geographies and categories, however. Overall, October was among Calastone’s top ten worst months for equity fund flows on record.

Key highlights from this month's FFI:

  • UK-focused equity funds saw large outflows before Truss resigned followed by inflows after she stepped down
  • Outflows from equity funds of all categories dropped to £422m in October, though this was still one of the worst months on record
  • North American equity funds were hardest hit – investors sold into the market rally
  • Global ESG funds saw inflows return
  • Property funds hit by mini-budget and growth concerns
  • Fixed income funds benefited from falling bond yields.