Fund outflows halve in October to £3.7bn

All main asset classes suffered outflows

UK investors pulled £3.7bn from funds in October, the ninth month of outflows this year, but only half the amount taken out back in September, according to Investment Association (IA) data.

All main asset classes suffered outflows in October, however these were less than in the previous month for all, except mixed asset funds. Chris Cummings, chief executive of the IA, said the slowing of outflows in October was a result of markets settling following the gilt crisis in September, and investors taking a "wait-and-see approach" ahead of the Autumn Statement, which saw an overwhelmingly calm reaction from markets.  Retail sales growth jumps in November but lags far behind inflation Investors have remained cautious however, pulling money out across the board. Mixed ass...