Savers Pull £1.7 Billion From UK Funds In One Month
Law360, London (October 4, 2019, 1:12 PM BST) -- British savers withdrew almost £1.7 billion ($2.1 million) from U.K.-based funds in August in the biggest exodus of capital since November 2018, an investment trade body has said.
Investors pulled equities at the highest rate of any asset class, withdrawing £3.2 billion from the market in the third consecutive month of money flowing out, according to research published Thursday by the Investment Association.
“Savers took almost £1.7 billion out of the funds market in August, with equities feeling the heat,” Chris Cummings, chief executive of the Investment Association, said.
Britain also topped the list for net flow of money out of...
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