LONDON – UK-focused equity funds saw record outflows of 836 million pounds ($1.05 billion) in April due to a weak economic outlook for Britain, fund network Calastone said on Wednesday.
UK-based funds focused on North America also saw their second-highest outflows on record at 285 million pounds, Calastone said, as investors worry about inflation and shift attention to safe-haven assets.
“Investors are wary,” said Edward Glyn, head of global markets at Calastone. “Everywhere we look, risk-off trades are dominating the picture.”
Out of 49 billion pounds in equity fund investments tracked by Calastone since January 2015, no net new money has flowed into UK-focused funds, it said.
More than two-thirds of UK-based fund flows by value pass across the Calastone network each month.
($1 = 0.7971 pounds)