UK equity funds suffered their second-worst month on record in September, as long queues at petrol stations and concerns over rising inflation prompted jittery investors to head for the exit.

Data from Calastone, which tracks money entering and leaving funds in the UK from financial advisers, fund supermarkets, and wealth managers, shows investors withdrew £567m from funds that invest in UK assets — the worst month for outflows since June 2020 when profit-taking savers yanked £673m following central bank stimulus and an uptick in global markets.