More than $4bn has been pulled from UK equity funds since Theresa May announced her decision to step down as Britain’s prime minister as fears mount that the UK is heading for a no-deal Brexit under her successor, Boris Johnson.
Investors have withdrawn $4.2bn from UK equity funds since late May, according to EPFR, a data provider. Outflows since the Brexit referendum in 2016 have climbed to $29.7bn.
Luke Ellis, chief executive of Man Group, the UK-listed hedge fund manager, said investors had put the UK into the “too hard to think about basket”.
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