Brexit Triggers $6.3B Net Outflow From UK Equity Funds
Law360, London (February 7, 2019, 3:24 PM GMT) -- Fears that Britain will crash out of the European Union caused net retail outflows of £4.9 billion ($6.3 billion) from U.K. equity funds in 2018, according to an industry trade group, amid warnings of worse to come unless the government can secure an orderly withdrawal.
The Investment Association, which represents U.K. asset managers, said that net sales of all types of investment funds to retail investors plummeted 85 percent to £7.2 billion in 2018 from £48.5 billion in the previous year.
“U.K. equities were particularly hard hit, with savers reacting to the ongoing Brexit uncertainty by pulling out £4.9 billion in...
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