March 19, 2020 / 12:51 PM / 18 days ago

Investors pull 3.2 billion pounds from UK funds in March - Calastone

LONDON (Reuters) - Investors have withdrawn 3.2 billion pounds from UK-based funds so far in March, fund network Calastone said on Thursday, as they react to the coronavirus pandemic and its economic impact.

Investors took 2.4 billion pounds out of bond funds - which may include both sovereign and corporate debt - and 116 million pounds from real estate funds in the period up to March 18, Calastone said in an email. Several UK property funds have temporarily suspended dealings this week.

Investors pulled 1.5 billion pounds from active equity funds, where portfolio managers make stock-picking decisions, but put one billion into index-tracking passive funds.

Reporting by Carolyn Cohn; Editing by Rachel Armstrong

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