Overview
- Investors pulled £3.02bn from equity funds in November, the second‑worst month on record after October’s £3.63bn.
- Selling dominated on almost every day before the 26 November Budget, then halted abruptly with modest inflows in the final three sessions of the month.
- UK‑focused equity funds saw the largest November outflows at a net £847m, while Europe‑focused funds attracted about £78m.
- Cash rotated to perceived safe havens, including £1.25bn into money‑market funds and £643m into fixed‑income products.
- Calastone’s Edward Glyn blamed a destabilising political narrative, and Peel Hunt’s Charles Hall said a meaningful recovery in December looks unlikely.