UK equity fund outflows this year have already beaten their previous all-time annual high, as global market turmoil continued to panic investors.

UK investors pulled £2.4bn from equity funds in September, bringing the total yanked since January to £6.6bn, according to data from Calastone. That makes 2022 the worst year on record for the asset class. The previous high was 2016, when funds shed a net £4bn over the year.