Asset Management

UK investors flee equity funds on coronavirus fears

The virus’s spread to Europe has dramatically reversed healthy inflows from earlier this month

Thursday 27 February 2020 at 00:01

Asian and global funds have been particularly affected
Asian and global funds have been particularly affected Photo: Getty Images

Investors have pulled more than £200m from equity funds on sale in the UK since the start of this week, as the escalating Covid-19 outbreak continues to spook markets.

According to data provider Calastone, a net £232m was yanked from equity funds on Monday and Tuesday, following reports over the weekend that the virus — which originated in China — had spread to the north of Italy and other parts of continental Europe.