Europe funds have reversed a four-month streak of net outflows as a period of strong performance from the continent’s stocks pushed the region into the black, with £101m of net inflows in May, according to the latest Investment Association (IA) statistics.
Meanwhile, UK funds recorded heavy outflows, with £571m withdrawn over the month, while UK Equity Income topped the table as the worst-selling IA sector, contributing £375m of the negative flows. Global stood out as the best-selling region, drawing £736m in net retail sales, while North America took the silver spot with £206m and Asia also stayed positive, receiving £59m in net retail inflows. Property funds continued their long-standing losing streak as they recorded £184m of net retail outflows during May. That month saw M&G lift the shutters on its 17-month suspended fund, resultin...
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