Outflows from UK funds in November hit the highest level since the EU referendum.
Net retail sales were negative, with outflows totalling £2.1bn - the most since the 2016 Brexit vote - as investor caution increased due to international trade tensions, Brexit and market volatility, according to the latest figures from the Investment Association.
Fixed income funds faced retail outflows of £1.2bn, equity funds saw outflows of £467m followed by funds classified as other, which experienced outflows of £637m.
The only assets that saw positive sales were mixed asset and property which had net retail sales of £350m and £19m respectively.
Global, North America and Japan funder were the best-selling equity funds by region in November, while UK and Europe funds fared the worst with net retail outflows of £319m and £426m.
Investment Association chief executive Chris Cummings said: “Global uncertainty has led to a doubling down of investor caution in November.
“A combination of international trade tensions, ongoing Brexit uncertainty and the market volatility seen from October onwards, have clearly dented confidence.
“Fixed Income funds experienced a second month of significant outflows, which, alongside the declining appeal of UK and European Equity funds, contributed to the largest net retail outflow since the EU referendum of £2.1bn.”