Financial Funds Suffer Biggest Sell Off in Five Years

Morningstar data shows investors are ditching funds with exposure to financial stocks, amid fears of continued poor performance in European banking sector

Karen Kwok 23 June, 2016 | 2:00PM
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An increased number of UK investors are ditching funds with high exposure to financial sector stocks - as poor performance continues to hamper this sector.

Data from Morningstar Direct shows that nearly £300 million of assets were sold in funds under the financial services equity sector in the first quarter of this financial year - the highest level in five years. In the year to date the sector saw outflows of £590 million.

Within this sector, Aptus Global Financials fund saw the largest outflows, at £271 million in the first quarter of the year. Jupiter Financials Opportunities fund also recorded outflows of £18 million over the same period of time.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
Aptus Global Financials A Inc262.74 GBP1.88Rating
ASI Europe ex UK Income Equity R Acc168.41 GBP0.85Rating
Jupiter Financial Opportunities L Inc920.85 GBP1.06Rating
Liontrust European Opports A Acc GBP  

About Author

Karen Kwok

Karen Kwok  is a Reporter for Morningstar.co.uk

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