UK investors put record $3.9 bln in equity funds in November, survey says
LONDON, Dec 4 (Reuters) – Investors put a record 3.1 billion pounds ($3.92 billion) into British equity funds last month, returning after a domestic budget statement in October, Calastone said on Wednesday.
The investment followed record outflows in October ahead of the British Labour government’s first budget, as investors fled a well-flagged capital gains tax rise, the global funds network added.
UK investors also put 317 million pounds into UK-focused funds in November, the first month of inflows since May 2021.
“Almost half of October’s outflows were poured back into equity funds in the first week of November, further evidence that these record flows were all about minimising tax bills,” said Edward Glyn, head of global markets at Calastone.
“There is no major catalyst on the immediate horizon to prompt a wholesale resurgence of interest in the much unloved UK stock market,” Glyn added.
($1 = 0.7905 pounds)
Resource from Reuters: https://www.reuters.com/markets/europe/uk-investors-put-record-39-bln-equity-funds-november-survey-says-2024-12-04/