Money market funds were the only asset class to receive net inflows last year, with equity funds surpassing 2022’s redemptions, with a total £18bn outflows.
According to Morningstar's latest UK Fund Flows report, money market funds attracted over £4bn inflows last year, taking in £248m in December alone. By comparison, equity funds suffered almost £3.5bn more redemptions in 2023 than the prior year, and failed to record a single month of net inflows, with £668m withdrawn in December. Fixed income funds shed £826m in December, raising the total to £254m of net outflows in 2023, while Morningstar's ‘Allocation' category saw £507m outflows last month, for a total £7.8bn for the year. Morningstar: Over 60% of active bond managers outper...
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