From Morningstar:

UK investors have had less confidence despite record highs in some markets, with £25.7 billion in outflows from UK-domiciled funds in 2023, mostly from equity funds. Specifically, equity funds failed to see net inflows in any month over the year. Four categories of UK equity have seen significant outflows, totaling about £13.4 billion in 2023. UK equities have suffered outflows of £35 billion, with equity remaining the largest global broad asset class by assets, at £646 billion, compared to fixed income at £181 billion. Financial outflows have moved towards sustainably labeled strategies, which gained £1 billion while non-sustainable strategies saw a drop of £26.9 billion. This trend can also be seen with active and passive strategies, with £21 billion added to passive funds and £46.8 billion withdrawn from active funds. This shift impacted figures for asset managers as well, with BlackRock leading in inflows at £6.6 billion, followed by Vanguard at £2.9 billion, Legal & General at £2.8 billion, and HSBC at £2.6 billion, while Baillie Gifford, Abrdn, and Fidelity International experienced the largest redemptions.



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