According to the latest Fund Flow Index from Calastone, published today (5 March), February recorded the largest equity fund outflows since November, with a net £12.2bn withdrawn from equity funds since June.
More than one sixth of the net outflows (£162m) came from specialist sector funds focused on technology.
Active equity funds have now recorded outflows for 14 consecutive months, with investors withdrawing £1.5bn during the month, while allocating £571m to passive funds.
Across the equity market as a whole, the largest outflows were seen in UK equity funds (-£555m), followed by global funds (-£518m) and specialist sector funds (-£284m).