Asset Management

Virus ‘fear eats greed’ as investors pull £300m a day from UK equity funds

'Complacency' over the global coronavirus outbreak came to an abrupt end during the final week of February

The London Evening Standard coverage of Prime Minister Boris Johnson's speech on the coronavirus outbreak
The London Evening Standard coverage of Prime Minister Boris Johnson's speech on the coronavirus outbreak Photo: John Keeble/Getty Images

UK investors pulled more than £300m a day on average from equity funds during the final week of February, as “complacency” over the global coronavirus outbreak came to an abrupt end.

According to updated figures from data provider Calastone, investors yanked £1.55bn from equity funds on sale in the UK between 24 and 28 February — a move that coincided with Covid-19 spreading from China and into Europe.

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