April saw inflows of £1.5 billion, marking a sixth consecutive month of inflows, new data from the Investment Association has shown.
The figure was a slight increase on March’s £1.3 billion, despite a volatile investing landscape.
The IA said equity outflows narrowed sharply to £698 million in April, from £1.3 billion in March. Investors returning to equities did so predominantly through index trackers, with equity tracker funds drawing inflows of £1.7 billion.
North America equities led inflows, attracting £860 million – the strongest monthly inflow since April 2025. In contrast, UK equities saw outflows of £673 million.
The data showed money market funds recorded their first outflow since August 2025, with £755 million withdrawn. However, fixed income returned to inflows of £466 million, reversing March’s outflow of £966 million.
Miranda Seath, director, market insight & fund sectors at the Investment Association, said: “Six months of consecutive inflows is a meaningful signal that retail investors have not been shaken from their long-term plans, even as the investment landscape has remained far from straightforward.
“What’s particularly striking this month is the shift out of money market funds. For much of the past year, investors have been holding capital in short-term cash-like assets, understandably so, given the level of uncertainty in markets. The fact that we are now seeing that money begin to move is an encouraging sign that investors are starting to feel more confident in the investment outlook, particularly for the US following a strong month of North American equity inflows.
“The question now is whether this momentum into North American equities broadens out, or whether geopolitical uncertainty keeps risk appetite contained.”
Main image: richard-horvath-_nWaeTF6qo0-unsplash
