Equity fund flows fall to weakest in eight years

UK-focused funds were hit the hardest of any sector, seeing record outflows of £8.5bn and outflows during every month of the year, data from Calastone revealed. Europe-focused funds recorded a fourth consecutive year of net selling, with £2.3bn in outflows, while Asia-Pacific funds saw £1bn in outflows. North American funds experienced their first year of outflows since 2016, with a record £1.2bn in outflows. Passive funds also suffered their first year of outflows on record and performed below active funds for the second year running, seeing £4.5bn in outflows compared to active's...