UK Fund Outflows Slow in May

Among surprises in Morningstar's May fund data: UK funds were back in favour and Woodford equity income did not see the biggest outflows

James Gard 24 June, 2019 | 12:15PM
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May was a volatile month for global stock markets so it was no surprise to see UK bonds again receiving substantial inflows from investors in Morningstar's monthly flow data. But the numbers also threw up two unexpected results: given the drama surrounding Woodford Equity Income, which was suspended in early June, the fund did not suffer the biggest outflows in May.

According to Morningstar Direct data, the flagship Woodford fund suffered £202 million in outflows in May, the seventh largest drawdowni in the month. Overall, UK funds saw net outflows, but, as Morningstar analyst Bhavik Parekh notes, the total outflow of £476 million from the sector in the month is much smaller than the £5.8 billion investors withdrew in January or the £5.4 billion in March.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar
Rating
AI North American Eq UK Corp Inc2.56 GBP0.12Rating
ASI Global Absolute Ret Strat R Acc77.47 GBP-0.03Rating
Fundsmith Equity I Acc6.39 GBP-0.01Rating
Vanguard FTSE UK All Shr Idx Unit Tr£Acc230.04 GBP0.30Rating

About Author

James Gard  is content editor for Morningstar.co.uk