Investors Yank More From U.K. Funds on Brexit Than During Crisis
- Retail investors redeem 3.5 billion pounds from funds in June
- U.K. property funds hit with 1.4 billion pounds in outflows
The glass windows of the Leadenhall Building, also known as the Cheesegrater, reflect the neighboring skyscraper at 30 St Mary Axe, also known as the Gherkin, left, in the financial district of London.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
Individual investors pulled more from U.K. investment funds in the month that Britain voted to leave the European Union than they did during any equivalent period in the global financial crisis.
Retail investors redeemed a net 3.5 billion pounds ($4.7 billion) from funds in June, according to data compiled by The Investment Association. Equities accounted for most of the outflows, with 2.8 billion pounds pulled, while property funds were hit with 1.4 billion pounds of redemptions, the data shows.