The London stock market is suffering from “a relentless narrative of gloom” and British investors are eschewing UK stocks in favour of companies listed in the US, according to the data specialist Calastone.
Investors withdrew a net £823 million from UK funds in March, the highest since February last year. It marked the 34th consecutive month that flows have been in the red for UK funds. Over the entirety of the first three months of the year, £2.1 billion was pulled from funds focused on the London market, one of the worst quarters since Calastone began compiling the data in 2015.
And British cash is heading Stateside: more money was put into North American equity funds during the four months between December and March than
