Investors yanked cash from UK equity funds between July and August, as investor fears continue to mount over the full impact of Covid-19 and the returning threat of a crash-out Brexit.

Data from funds network Calastone shows investors pulled a net £1.2bn from funds investing in UK companies over the three month period – the highest amount on record and exceeding the outflows recorded in the immediate aftermath of the UK’s decision to leave the European Union in 2016.