Funds channelling investment into UK companies suffered their worst month on record in January, with another bout of selling pushing total outflows past their previous high following the Brexit vote.

Data from Calastone, which tracks money entering and leaving funds from financial advisers, fund supermarkets and wealth managers, shows net sales of £795m for UK-focused equity funds in January — comfortably beating the previous monthly record of June 2020, when £673m flooded out.