£1.95bn pulled from Baillie Gifford funds in October

While Abrdn recorded its largest net inflows in over a year

UK inflation drop raises questions over rate increase


Baillie Gifford suffered its highest net outflows in over a decade in October after investors pulled £1.95bn from its funds, with Schroders losing £734m, according to Morningstar’s October fund flow commentary.

In terms of individual strategies, Baillie Gifford’s Diversified Growth Fund saw the highest net outflows of £452m, while investors took £371m out of BG’s Multi Asset Growth Fund.

But it wasn’t just a tough month for the Edinburgh-headquartered firm, with its diversified growth fund bleeding £2.47bn over the past 12 months. This was followed by Vanguard FTSE UK All Share Index UT and Fundsmith Equity, which saw net outflows of £1.99bn and £1.94bn, respectively.

A brighter note in an otherwise weary October was Abrdn recording its highest net inflows in over a year, pulling in £734m during the month, followed by Legal & General scooping up £526m.

On an individual strategy basis, the Royal London Short Term Money Market Fund led the way with £383m flowing into the fund in October, followed closely by Abrdn’s American Equity Tracker and Asia Pacific ex-Japan Tracker funds, which recorded £360m and £261m of net inflows, respectively.

Fixed income strategies saw modest net inflows of £308m in October, while allocation strategies saw their largest net outflows in over a decade of £2.75bn. Investors also pulled £2.9bn from equity strategies, which recorded its seventh consecutive month of net outflows.

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