UK-domiciled funds suffer £5bn outflows in lead up to March Brexit deadline

UK-domiciled funds have suffered outflows of £5bn in March, according to figures from Morningstar Direct, bringing the total outflows since April 2018 to £30bn. Investors moved UK-based assets into European countries in the lead-up to the original Brexit deadline day on 29 March, with Luxembourg emerging as the biggest winner from the shift, analysts at Morningstar said. UK and European equity markets were particularly out of favour with investors as £1.3bn was withdrawn last month. "Brexit has made analysing fund flows from UK-domiciled funds difficult," said Bhavik Parekh, associ...