Funds that plough money into UK companies shed more than £960m in February, with investors unconvinced that last month’s all-time-high recorded by the FTSE 100 marks a turning point for the British stock market.
According to data from Calastone, which tracks money entering and leaving funds in the UK from financial advisers, fund supermarkets and wealth managers, investors pulled a net £962m from UK equity funds in February — the third largest monthly withdrawals on record.
