The UK's Investment Association (IA) published statistics today revealing the country's covid-19 induced lockdown resulted in a record £10bn in outflows from retail funds in March. According to the IA, total funds under management stood at £1.1trn in March, down from £1.2trn in 2019. Fixed income funds were the worst-selling asset class for the month, with net outflows of £7.4bn. ESG-linked and alternative funds proved "resilient", the IA reported, with £113m in net retail sales. Chris Cummings, CEO of the IA, said: "With the fastest switch to a bear market in history, the introdu...
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