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Passive funds bleed more than £700m during worst month on record
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Passive equity funds posted their worst month on record in October, as growing fears about rising inflation and interest rates prompted investors to pull more than £700m.
Data from Calastone, which tracks money entering and leaving funds in the UK from financial advisers, fund supermarkets, and wealth managers, show equity funds more generally suffered monthly net outflows for the first time in more than a year.
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