UK investors turned their backs on passive funds in July, favouring actively managed sustainable investment products which chalked up one of their best months on record.

Data from Calastone, which tracks money entering and leaving funds in the UK from financial advisers, fund supermarkets and wealth managers, show passive equity funds gathered just £39m in July — 90% lower than their long-run monthly average and the second-worst month for the funds in over five-and-a-half years.