Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Investors head for the exits
With the clock ticking towards Britain’s exit from the EU, outflows from UK equity funds reached £1.2bn in May.
This is according to the Investment Association’s (IA) monthly statistics of UK investor behaviour, with UK All Companies proving the worst-selling IA sector with a £996m outflow.
Alastair Wainwright, the IA’s Fund Market Specialist, does however caveat that ‘UK equities are not necessarily reflective of the UK economy, given the high number of firms with international revenue bases listed in London.’
Nevertheless, Global funds were the best-selling in May in terms of regions with net retail sales of £460m, followed by North America (£211m) and Japan (£141m) funds.