The job market in the Eurozone keeps softening

British Prime Minister Rishi Sunak called a surprise general election for July 4th, despite his Conservatives trailing far behind the Labour Party in polls. This chart examines daily flows in and out of British equity and bond funds before and after that election call, using data from EPFR recently added to the CEIC platform.

On May 22, the day of the election call, UK equity fund outflows surged to USD 527.6 million – the largest since December 19. After a partial recovery the following day (inflows of USD 322.3 million), the outflow resumed, reaching USD 485.8 million on May 24.

For bond funds, the outflow was small on May 22 but surged to USD 418.2 million the following day. A minor inflow was registered for May 24.

The EPFR also allows us to track net flows on a longer-term basis, as the next charts show. So far in 2024, net equity fund outflows from the UK have reached about USD 9.5 billion, similar to the level seen last year. Over the past five calendar years, only 2021 saw a positive net inflow to equity funds.

The bond fund dynamic is different. As of the end of May, net inflows had reached USD 4.1 billion, outperforming last year.
The EPFR datasets available on CEIC cover more than 151,000 traditional and alternative fund share classes accounting for more than $52 trillion in total assets – delivering a complete picture of the institutional and retail investor flows and fund manager allocations that drive global markets.

Explore more data and visuals here: EPFR Fund Flows and Asset Allocation

If you are a CEIC user, access the story here.

 If you are not a CEIC client, explore how we can assist you in generating alpha by registering for a trial of our product: https://hubs.la/Q02f5lQh0