UK investors withdrew £822m from funds in May, the fourth month of net retail outflows so far this year.

Investors pumped in £553 million into funds in April after pulling out £3.5 billion in March, according to latest figures out today from the fund managers’ trade body the Investment Association. 

Retail funds have seen a third consecutive month of outflows, according to the latest data from the Investment Association, the fund managers' trade body.

IntegraFin Holdings, the parent company of adviser platform Transact, has reported a 1.9% drop in funds under direction in its second quarter as global markets took a tumble.