Investors pull £7.6bn as Mini Budget fallout hits

Second worst month on record

clock • 1 min read

UK investors withdrew £7.6bn from funds in September, a level of outflows from retail funds not seen since the start of the pandemic, according to Investment Association data.

Chris Cummings, chief executive of the IA, said market turmoil following the 23 September Mini Budget contributed to investors pulling their money. Only in March 2020, at the start of the Covid pandemic, have outflows been higher at £9.7bn. Refinitiv: UK funds suffer largest outflows on record in September The September figures mark the eighth month of net retail outflows this year. Equity funds were the worst hit - investors pulled out almost £5bn, the highest monthly outflow on record, driven by outflows from global equities of £2bn.  UK equity funds saw outflows of £1.3bn, h...

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