Retail investors sold a net £63 million of fixed-income funds after the mini-budget and subsequent gilts market seizure, according to analysis of fund flows.
Investors who had been large net buyers of fixed-income funds in the previous three weeks appear to have been spooked in the fourth week by Kwasi Kwarteng’s announcements, which sent bond markets into turmoil.
The figures, from funds infrastructure group Calastone, also showed no sign of any improvement in overall market sentiment, with investors pulling a record net £2.4 billion from UK-domiciled equity funds in September.
UK equities continued to be dumped, with £694 million of net selling of equity funds in September — the 16th successive month where redemptions exceeded new purchases.
The Calastone data also identified a surprise withdrawal
