U.K.-focused equity funds saw $10 billion in outflows through the year, much higher than other major markets.
U.K.-focused equity funds saw $10 billion in outflows through the year, according to Calastone research.
Funds network Calastone reported Thursday that there were total outflows of £8.38 billion from U.K.-focused equity funds in 2022 — the worst in its eight years of recording the data. Equity funds are grouped investments that predominantly focus on shares of companies.That compared with £2.65 billion in outflows from other European stock funds, £1.17 billion from North American funds and £1 billion from Asia-Pacific funds.
Meanwhile, passive equity funds, which track a stock market or market sector, saw their first year of net outflows on its records. Edward Glyn, head of global markets at Calastone, said interest rate hikes had "turned asset markets upside down" and sent investors fleeing to cash and perceived lower risk fund categories.
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