Wealth managers forecast that UK retail savers will keep pulling funds out of investment funds this year, as householders struggle with inflation and rising mortgage costs.
Data from the Investment Association, a trade body, showed that in June retail investors pulled some £986mn from equity and fixed income funds. This represented the first net outflow by retail investors since December last year.
As rising rates drove growing interest in fixed income, investors focused strongly on UK government bonds with overall net flows into gilts funds in June of £504mn, compared with a net inflow of just £126mn across all bond funds (including gilts).
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