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Fund exodus in full flow

Retail fund outflows reac-hed a record £550m in January as the investor exodus cont-inued after December’s previous outflow high of £337m.

Figures from the Investment Management Association show the extent of the swing in business in comparison with January 2007 when there was an inflow of £912mThis January, the UK all companies sector saw anoutflow of £439m while there was a £77m withdrawal from property funds.

The global growth sector saw inflows at £154m.

There was a £68.4m outflow of Isa business last month after small inflows of £17m in December 2007 and £30.9m in January 2007.

IMA chief executive Richard Saunders: “January saw a continuation of the outflows in the last two months of 2007. January’s outflows were concentrated in equ-ity funds, with property fund outflows down to aroundhalf the levels of November and December.”

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