The pace of outflows from UK property funds picked up in April, marking a ninth consecutive month of net withdrawals.
Investors sold a net £24m from real estate funds during the month, according to funds network Calastone – the largest global funds network – up from £14m in March.
Property fund outflows came despite marked inflows to equity funds, into which UK investors invested money at the fastest pace since May 2021.
Edward Glyn, head of global markets at Calastone, said: “Property remains vulnerable in the face of high interest rates. Moreover, there is a lot of uncertainty over the likelihood and severity of any potential economic downturn. The resurgent optimism in equity funds is therefore also rather fragile. The wobbly start to May in global markets as another bank collapsed in the US suggests there are more bumps in the road to come.”
To send feedback, e-mail tim.burke@eg.co.uk or tweet @_tim_burke or @EGPropertyNews
