UK investors pulled over £1.6bn (€2bn) out of pooled equities funds in May, and placed almost £800m into fixed income assets, continuing a trend in favour of low-risk asset classes.

According to statistics published by the Investment Management Association, a UK industry body, British institutions pulled a net £768m from equities funds. The majority of the outflows were from vehicles investing in UK equities: £417m of the outflows were from funds in the IMA's UK All Companies sector. The outflows were partially offset by net inflows of £57m into UK equity income funds.