British investors swapping stock market for 'safe’ pick

BRITISH investors quit the stock market at a record pace last year, as Budget worries sparked a flight to safe assets.

- By MAISIE GRICE

OUTFLOWS: Rose for seventh month

Equity fund outflows hit £6.7billion - twice the £3.3bn of Brexit referendum year 2016, said funds network Calastone.

December was the seventh consecutive month of outflows — investors withdrew a net £188million, a total £10.6bn since June, in the longest-recorded selling spree.

Actively managed funds bore the brunt of exits, shedding £18.9bn of capital compared to inflows of £12.2bn for passively managed strategies.