Retail funds saw net negative flows of £859m in January, compared with net sales of £4.2bn in the same month last year, according to the latest data from the Investment Association.
The figures follow a particularly volatile Q4 in 2018 which saw net outflows every month, amounting to £5.9bn for the quarter. Though flows were not as bad in January, they were substantially worse than January last year which saw inflows of £4.2bn. Equity funds were hit the hardest with outflows of £870m, followed by funds classified as 'Other' which includes Targeted Absolute Return and Volatility Managed vehicles, which saw outflows of £427m. However, there was good news for fixed income after three consecutive months of outflows, with the asset class seeing inflows of £253m. The b...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes