July 7, 2020 / 7:03 AM / a month ago

UK active equity funds see record $1.7 bln outflow in June -Calastone

LONDON, July 7 (Reuters) - Investors withdrew a record 1.35 billion pounds ($1.69 billion)from active UK-focused equity funds in June, topping the level seen after the Brexit vote four years ago, fund network Calastone said on Tuesday.

Britain saw weak economic data in June, worries about a no-deal Brexit resurfaced and a wave of pandemic-driven dividend cuts weighed on UK-listed companies, Calastone said.

Equity funds in general saw net outflows of 1.2 billion pounds in June, a reversal of inflows of 1.2 billion recorded in May. Bond funds took in 474 million pounds last month after seeing 627 million in inflows in May, the data showed.

More than two-thirds of UK-domiciled fund flows by value cross the Calastone network each month.

$1 = 0.8004 pounds Reporting by Carolyn Cohn; Editing by Susan Fenton

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