UK investors' stocks sell-off accelerates, ESG 'boom ends'

📆 6/9/2023 9:59 PM
📰 Reuters

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Investors in Britain dumped both stocks and bonds in August as they continued to opt for the safety of cash and money-market funds, according to data from fund network Calastone published on Tuesday.

Funds focused on environmental, social and governance issues also saw a fourth consecutive month of net selling, down 953 million pounds - taking the total pulled from such funds to nearly 2 billion pounds since May.

Fixed income funds also saw net selling of 330 million pounds in August, marking a reversal of fortunes after adding 4.8 billion pounds over the first seven months of the year against a backdrop of rising interest rates. Money market funds once again outperformed, adding 673 million pounds - the second highest monthly inflows on record.

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