Investors have sold £65bn worth of UK assets in March and April as fears over the upcoming Brexit vote intensify, marking the fastest rate of outflows since the financial crisis.
According to the Telegraph, Bank of England figures suggest the money was converted into other currencies, confirming investors were beginning to take the 23 June referendum seriously.
The two-month move out of UK assets was the greatest since early 2009, when the UK suffered as a result of the global financial crisis.
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The figures add weight to suggestions that fund managers have attempted to "sit out" June by repositioning holdings in other parts of the world.
A total of £77bn has left sterling-denominated assets in the half year to April, according to the BoE, compared with a £2bn drop in the preceding six months.
Uncertainty over the outcome of the vote is weighing on sentiment, with two polls published on Tuesday showing Britons narrowly favour remaining in the EU, while several released on Monday revealed the campaign for Brexit ahead.
Last week, Investment Week reported that fund managers are seeing opportunities in UK government bonds if Britain decides to leave the European Union, with many expecting this outcome to prompt gilt prices to rally further following their strongest start to the year since 2007.
