BlackRock dominates UK fund flows in July
The strong flows into equity funds marked a turnaround from two consecutive months of net outflows in May (£992m) and June (£1.2bn).
Throughout July, UK open-ended funds received £1.1bn in inflows, a strong reversal of the £986m net outflows in June, meaning there has now been net inflows in six of the seven months of 2023.
The fund with the highest inflows was the Blackrock ACS US Equity Tracker fund, gaining £731m, while the runner-up HL Global Corporate Bond fund brought in £529m after it launched in July.
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Other top-performing BlackRock funds included the Blackrock ACS Japan Equity Tracker fund, gaining £252m in inflows, and the iShares Corporate Bond Index fund (UK), which brought in £148m.
The third best performer of the month, the Royal London Global Equity Income fund, more than doubled its assets by bringing in £302m to the now £565m fund.
However, two BlackRock funds also sat at the top of the rankings for outflows, with its UK Equity Tracker fund losing £1.3bn and its 30:70 Global Equity Tracker fund losing £770m.
Beyond that, other funds with large outflows included Schroder Diversified Growth fund, which lost £633m, and Fundsmith Equity fund, with £185m in outflows.
Active ETFs maintain strong inflows throughout July
Equity and mixed asset funds dominated inflows into UK open-ended funds throughout July, with the equity funds receiving their largest inflows since December 2021.
Mixed asset (£860m) and equity funds (£814m) were the top recipients of the new money, with fixed income (£517m) and volatility managed (£251m) also benefitting throughout the month.
Meanwhile, money market funds suffered, losing £914m in
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