Global equity funds enjoyed a second consecutive month of record inflows as UK investors added nearly £3 billion to the asset class.
According to the latest fund flow data from Calastone, investors favoured global, UK and North American funds.
Demand for European equity products waned, perhaps as the continent lags the UK and US in its Covid-19 vaccine drive, Calastone said.
UK investors also added over £880 billion to bond funds. Total inflows across all asset classes hit £6.1 billion by the end of the month.
Edward Glyn, head of global markets at Calastone, highlighted that the pandemic is “claiming more lives than ever around the world, but in the UK and North America it is in retreat.
“The situation in Europe is improving, and it remains under control in most parts of Asia. Stock markets have been on a gently rising trend, while bond yields which are bad for share prices when they rise, have been steady,” he said, adding that investors are looking to the post-pandemic boom.
© 2021 funds europe