How flow can you go?
by Alex Harvey, CFA
After a bumper few months for equity markets, a recent report from Calastone, the global funds network, showed June was one of the worst months on record for outflows from UK equity funds. That follows positive UK market performance for each of April, May and June. The selling was broad based with even passive funds showing a rare negative flow print, so why the rush for the door and are investors cashing in their UK equity chips too early?
- US-China tensions rise, EU members agree firm recovery path
- Global Covid-19 cases top 15 million
- Brent crude rose 0.5% ending the week at $43.3 a barrel
- Gold rose 5.1% to $1902.0 an ounce as metals rallied