UK fixed income flows fall flat in November

Following a steady influx of money since April, flows into UK bond funds finally dropped off in November.

While there was some activity within UK bonds, the net inflow totalled just over £100 million (€107.8 million) for the month, according to the latest data from Morningstar.

Overall investor sentiment in November was good as positive news on the Covid vaccine front spurred investors to add a net total of £6.5 billion to UK-domiciled funds (excluding money market funds.)

Morningstar said that the £4.6 billion net subscription for equity funds was different than previous months, as investors selected sectors that had long been out of favour, such as Europe and income. 

BlackRock retained the top spot as most popular asset manager in the country, followed by Aviva. 

Royal London and Baillie Gifford also maintained their positions among the most popular asset managers. Their strengths in sustainable vehicles and growth equity, respectively, benefitted them. 

Bhavik Parekh, associate analyst, manager research, said: “November was a strong month for value investors, so some may not have expected the £726 million net inflow into Baillie Gifford, a growth-orientated house.”

© 2020 funds europe

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