UK investors pull £482m from European funds in April

According to the Investment Association, UK investors withdrew £482 million from European funds in April, while £678 million poured into global equity income vehicles (IA).

The worldwide equity income sector was the most popular over the month, as investors sought dividends amid stock price volatility. According to IA data, total flows into investment funds reached £553 million in April, following £3.5 billion in outflows the previous month.

According to the IA, retail fund sales were boosted in April by “Isa season,” as savers committed £683 million to the tax-efficient wrapper, following a record first quarter for withdrawals of £7.1 billion.

Following interest rate hikes by the Federal Reserve and the Bank of England in March, investors began to flee fixed income.

In April, investment outflows from fixed income vehicles were £18 million, compared to £3.3 billion in March. In April, incoming funds to ethical investment funds jumped by about 30%, to $1.2 billion, up from £935 in March.

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