Morningstar: Equity funds suffer largest monthly net outflow since September 2022
Of the top ten fund groups by assets, only BlackRock, Aviva, and HSBC saw inflows.
According to Morningstar's latest UK Fund Flows report, investors withdrew £3.7bn from equity funds and over £1bn from money market funds, while adding £838m to fixed income strategies.
Overall, June saw the largest aggregate outflow across asset classes since October 2022. Passive funds attracted £493m of new money, while £4.9bn was withdrawn from active funds.
Both sustainably and non sustainably-labelled funds suffered outflows, with the latter taking the largest hit. Sustainable funds shed £998m, while non-sustainable funds lost £3.5bn worth of assets.
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UK large cap equities featured in the top outflows again in June, with investors redeeming £817m. Also on the list of largest net outflows by category were GBP Money Market — Short Term (£853m), GBP Flexible Allocation (£586m), Global Large-Cap Growth Equity (£358m) and Sector Equity Healthcare (£314m).
The GBP Government Bond and Global Bond categories attracted the most inflows, at £928m and £442m, respectively. They were followed by Japan Large-Cap Equity (£257m), GBP Allocation 40-60% Equity (£146m) and Europe ex-Equity (£99m).
Of the top ten fund groups by assets, only BlackRock, Aviva, and HSBC saw inflows. Baillie Gifford suffered the largest net outflows at £990m, followed by Royal London (£559m) and Legal & General (£383m).
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On a fund basis, M&G Japan continued to see strong inflows (£336m). Other funds in the top ten list for largest net inflows were the abrdn UK Sustainable and Responsible Investment Equity (£377m), as well as two
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