The Investment Association’s monthly statistics of UK investor behaviour in May 2018 showed outflows from UK equity funds reached £1.2bn in May.

Many industry pensions experts have given a cautious welcome to the FCA Retirement Outcomes Review but some have voiced concerns about aspects of the proposed changes, especially how investment pathways will work.

Hargreaves Lansdown co-founder Stephen Lansdown has cashed in £129m of shares, according to a notification to the London Stock Exchange.

Equitable Life has entered into an agreement to transfer the society and its policies to Reliance Life - part of the LCCG Group - for £1.8bn.