Money market funds dominated inflows throughout May, while most other categories lost money, according to data from Morningstar.
Inflows into UK funds throughout May totalled £1.1bn, but money market funds alone received £2.3bn in inflows, the data provider revealed. Fixed income was another winner for the month, gaining £314m, bringing total inflows for the sector in 2023 to £2.3bn, the largest of any category this year. Morningstar: Positive fixed income outlook boosts relevance of income multi-asset funds Meanwhile, property funds saw £124m of outflows, alternatives lost £190m and equities received £877m of redemptions. Other than in November 2022, equities have seen large outflows in every month over...
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