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How have property funds fared a year on from lockdown?
As we approach the one-year anniversary of the UK entering lockdown, how have property funds fared when most remain empty?
By Charlotte Richards 15
th March 2021 11:27 am
As we near the first anniversary of the UK’s initial Covid lockdown, many people are still working from home. The end of lockdown may finally be in sight but remote working looks set for the long term, with some companies opting not to renew office leases.
It remains to be seen just how many firms will do so, and whether it will become commonplace.
UK-domiciled open-ended funds saw net inflows of £7.3bn in December, with overall equity and fixed income flows significantly boosted by Access fund launches, the latest Morningstar fund flows data shows.
Equity funds saw net inflows of £2.4bn for the month, roughly equivalent to the figure raised for the launch of the LF ACCESS Global Alpha Equity fund, which masked the £1.3bn net outflow from active equity.
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Reopened property funds shed £166m amid record month for UK funds industry
L&G UK Property fund assets fall £500m in the six weeks after it lifted its seven-month suspension
Property was one of the only asset classes to suffer outflows amid a record month for UK-domiciled funds in November, as a decisive US election and positive vaccine trial data buoyed investor confidence.
In total, the UK funds industry raked in £8.3bn during the month, smashing the previous record of £5.7bn in September 2017, according to the latest Investment Association figures. Equity funds took in £4.1bn, mixed asset brought in £2.3bn and fixed income drew in £1.2bn.