Equity funds suffered their largest outflows on record in October. Investors withdrew a net £3.63bn, marking a fifth consecutive month of outflows from the asset class, the longest stint of selling since the Brexit referendum in 2016. Between June and October, investors have pulled a net £7.36bn out of equity funds, easily the largest outflow on Calastone’s record.
Key highlights from this month's FFI:
- Equity funds saw record outflows in October, with £3.63bn withdrawn, marking a fifth month of selling.
- £7.36bn has left equity funds since June – the largest outflow in any period on record.
- All equity categories saw net selling; UK funds lost £1.22bn in October alone.
- Global, North American and technology funds also saw heavy withdrawals.
- Investors shifted some of the capital to lower-risk assets, with a record £955m into money market funds and £589m into fixed income.