
UK investors unload record ÂĢ7.4âŊbillion in stocks since June
âĒBy ADMIN
British investors have pulled a staggering ÂĢ7.4âŊbillion (around $9.9âŊbillion) out of equity funds since June, marking the longest streak of consecutive monthly net selling in the domestic market since the 2016 Brexit vote.
The outflows are being driven by doubts around whether current global stock valuations are sustainable and worries over proposed changes to tax rules in this monthâs UK Budget, according to data from Calastone.
October alone saw a record ÂĢ3.6âŊbillion in stock withdrawals, while moneyâmarket funds absorbed ÂĢ955âŊmillion and fixedâincome funds took in ÂĢ589âŊmillion as investors shifted into lowerârisk assets.
Calastone also noted that all categories of equity fundsâincluding global, North American, technology and UKâfocused fundsârecorded net selling in the period.
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