Investors poured a record £2.6bn into equity funds in April as they looked to benefit from a relief rally in stockmarkets after a sharp fall during February and March, data from Calastone show.
Following two months of net outflows from equity funds and inflows for cash products while markets plunged on concerns over Covid-19, that trend reversed dramatically in April. Global equity funds, at £1.1bn, were in demand last month, with UK equities not far behind on £1bn, while money market funds were the only asset class to suffer outflows, according to the funds network's latest Fund Flow Index (FFI). Oil volatility drives EMD funds out of exporters The Calastone FFI:Equity jumped to 57.1, its highest reading in three years - where a reading of 50 means the value of buy order...
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