Recent data from the Investment Association (IA) has shown that UK savers made significant withdrawals from funds in September 2023, totalling £1.4 billion. This outflow represents the largest of the year to date.
Despite September's increase in withdrawals, the third quarter of the year witnessed a net inflow of £1.2bn. Q1 began strongly with £3.9bn in net inflows, but Q2 saw a reduction to £2.2bn.
Mixed asset funds experienced modest inflows, which rose to £781 million from August's figure of £478m. In contrast, £1.6bn left equity funds in September, following a moderate inflow the previous month.
Outflows from fixed-income funds slowed to £79m, a decrease from the £298m outflow recorded in August.
Notably, responsible investments experienced significant outflows, reaching a record high of £544m.
The UK all companies sector was the hardest hit with £884m in outflows, while UK gilts secured the top spot with £237m in inflows.
This financial data illustrates the changing landscape of UK investments and serves as a valuable point of reference for financial professionals and savers alike. The IA continues to monitor these trends as they develop.
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