Nervous investors pared back their fund buying in September as they "add to their rainy-day funds and fret about taking on more investment risk at a time of such uncertainty", according to global funds network Calastone.
Fund inflows across all asset classes in September were just £1.1bn, the firm said in its latest fund flows index, despite equity funds seeing their highest level of buying since May. Investors poured £385m into equity funds - the highest level in four months - as global stockmarkets continued to rally, but a pull back in recent weeks halted momentum. Indeed, Calastone's data show the majority of the buying took place in the first four days of September. Less than £400m came in during that period, with around £200m in the first week. For the rest of the month, the asset class saw n...
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