ii: Open-ended investors remain cautious in July

Seven most purchased funds were passives

Investors continued to stock up on commodity linked stocks and passives in July as market uncertainty prevailed, according to interactive investor’s data.

Analysing its monthly platform purchases, the group noted that investors continued to be cautious with their allocations as they waited for the US Federal Reserve to announce its rate hikes and concerns of recession increased. Richard Hunter, head of markets at ii, said: "US indices are not yet out of the dark but they have made some progress on the back of some company earnings which, in a sign of the times, were much less weak than had been feared. "Nevertheless, during July investor sentiment was dominated by concerns of recession against a backdrop of rising interest rates, soarin...