Reopened property funds shed £166m amid record month for UK funds industry
L&G UK Property fund assets fall £500m in the six weeks after it lifted its seven-month suspension
Property was one of the only asset classes to suffer outflows amid a record month for UK-domiciled funds in November, as a decisive US election and positive vaccine trial data buoyed investor confidence.
In total, the UK funds industry raked in £8.3bn during the month, smashing the previous record of £5.7bn in September 2017, according to the latest Investment Association figures. Equity funds took in £4.1bn, mixed asset brought in £2.3bn and fixed income drew in £1.2bn.