Equity funds suffer largest outflows since Mini Budget as ESG funds shed £700m

Equity funds shed £1.2bn assets in October, the sixth consecutive month of net selling, bringing their total outflows year-to-date to £2.9bn. UK-focused funds were hit hardest, losing £739m, their worst result since April. Meanwhile, equity income funds saw their 16th consecutive month of outflows with £475m withdrawn. ESG equity funds followed suit with their second worst month on record posting £700m of outflows, eclipsed only by £953m in outflows in August last year. In total, £3.1bn has been withdrawn from ESG equity funds over the last six months, Calastone found. Appetite for...