Reuters
UK-focused equity funds registered 868 million pounds ($1.04 billion) of outflows in January, in sharp contrast to global funds, which attracted investment as markets rebounded, funds network Calastone said on Tuesday. The latest data means UK equity funds have seen 20 consecutive months of outflows, with January's losses the third-largest on record. "The combination of January’s near-record high for the UK market, with near-record outflows smacks of opportunistic selling against a backdrop of chronic pessimism, exploiting a moment of higher prices to head for the exits," said Edward Glyn, head of global markets at Calastone.