Investors in UK funds reduced their holdings during October according to the Investment Association data published today.
The data which looks at a total of £1.2trn of funds under management held in UK authorised and recognised funds saw net outflows of £1.6bn over the month of October.
This compared to inflows of £5.3bn in October 2017.
The fixed income sector, which saw stark net retail outflows of £1.6bn in the UK in October, contributed to overall net outflows.
IA chief executive Chris Cummings says: “With the era of quantitative easing anticipated to end in both the US and Europe, fixed income funds have seen their appeal dented.”
He adds: “This declining appetite for bonds has contributed to UK funds experiencing their largest net retail outflow since the EU referendum, although it remains to be seen whether this is the start of a broader trend within fixed income.”