Budget worries saw savers sell-down equities at record rate

Data from global funds network Calastone shows £6.7 billion was pulled in the two months leading up to the Chancellor’s fiscal statement.

Budget fears saw investors pull a record £6.7 billion out of stocks and shares funds in the two months leading up to last week’s fiscal event, figures show.

Another £3.02 billion in equity fund outflows last month, following £3.63 billion in October, means investors have now sold down equities for a record six consecutive months, in the “most prolonged and most severe bout” of selling, according to global funds network Calastone.

It said £10.39 billion of equity fund holdings have been sold down between June and November.

The data shows outflows came to a “sudden halt” on Budget day – November 26 – with equity fund inflows resuming on that day and th