The amount of new money gathered by traditional stock picking funds over the past four years has been eradicated, as investors continue to favour cheaper passive products and those with a strong sustainable investment focus.

According to data from Calastone, between the autumn of 2016 and 2018 traditional active equity funds gathered £11.3bn of inflows from investors. However, as the tide turned on active fund managers and money continued to flood out of stock picking funds, the same amount had flowed out again by the end of September 2020.