Retail investors are pulling out of property and UK equity funds, according to an online investment platform.
The number of trades on Rplan.co.uk was up 175 per cent over the weekend after the Brexit vote compared with the previous weekend.
The company said 76 per cent of withdrawals were from property funds and 22 per cent from UK equity funds.
The sectors most bought overall included global equities (56 per cent), Japan equities (20 per cent) UK equities (16 per cent) and North America equities (five per cent).
“UK investors’ fears about the prospects for property are striking. Clearly, there are worries that property would be affected by a possible economic downturn and the withdrawal of foreign investors,” said Rplan’s chief investment officer, Stuart Dyer.
“But investors should not be too hasty in making decisions about the consequences of Brexit. Property and other asset classes have their roles to play in a balanced portfolio invested for the long term. Diversification helps to reduce both the impact of volatility and risk.”
Rplan had previously reported that UK investors were reducing investment in UK and European equities in the run-up to the EU referendum. It said the level of new investments in UK funds on its website was down 63 per cent over the last month.
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