New study suggests UK stock funds lost a record $10 billion last year.
By The Exchange Team
As per new research, investors sold U.K. stock funds at unprecedented rates last year, surpassing other major markets.
Calastone revealed Thursday that U.K.-focused equities funds lost £8.38 billion ($9.95 billion) in 2022, the worst year in eight years.
Investments that are pooled together and concentrate primarily on the shares of various firms are known as equity funds.
Other European stock funds outflowed £2.65 billion, North American funds £1.17 billion, and Asia-Pacific funds £1 billion.
The company stated 3 quarters of equity fund losses occurred in the third quarter, when former PM Liz Truss presented a controversial "mini-budget."
Amid rising inflation, anxiety over the Ukraine crisis, and other factors, investment money flows were the weakest in eight years.
Meanwhile, passive equity funds that track a stock market or market sector experienced their first year of net outflows on record.