© Reuters. FILE PHOTO: Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company’s headquarters in Vienna
LONDON (Reuters) – British-based equity funds saw a record three billion pounds ($4.13 billion) in inflows in March as investors bet on an economic rebound, data from fund network Calastone showed on Thursday.
Globally-focused equity funds attracted the most investment as vaccine roll-outs around the world boosted optimism.
“New capital has flooded in from investors keen to capitalise on the post-COVID economic recovery,” said Edward Glyn, head of global markets at Calastone.
The inflows beat a previous record set in April 2020, following government and central bank stimulus in response to COVID-19.
Environmental, social and governance (ESG)-focused funds were also in demand. ESG equity funds saw a record 1.6 billion pounds in inflows in March, while ESG fixed income flows hit a record 192 million pounds.
However property funds, hobbled by a round of UK fund suspensions last year, saw record outflows of 589 million pounds, the 30th straight month of outflows.
More than two-thirds of UK-based fund flows by value pass across the Calastone network each month.
($1 = 0.7258 pounds)
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