It suggests confidence has risen in the Asia Pacific, European, Global Emerging and UK markets.
But confidence in the US, where inflation rose last week, has fallen slightly.
Emma Wall, head of investment analysis and research, Hargreaves Lansdown said: “Despite investors saying that they feel less confident about the region, trading reveals a different story. The most bought funds and trusts this month are US-centric, US trackers, active funds and global and tech investments that are US-biased.”
She said that while confidence has risen in the European market and across emerging markets, inflation – and associated higher interest rates – is still driving consumer and corporate decisions across the globe, from the slowing housing market, to striking public sectors, to gilt purchases.
She said: “Higher yields have sent money market funds into the top 10 most bought funds for the first time – a semi-permanent reminder that despite markets rallying, all is not well – or at least, normal – in the economic cycle. All eyes will therefore be on the Bank of England this week to confirm the more positive outlook.”
Top Funds, August 2023 (net buys, alphabetical) |
abrdn Sterling money Market |
Baillie Gifford American |
Fidelity Global Technology |
Fidelity Index World |
Legal & General Cash |
Legal & General International Index Trust |
Legal & General UK 100 Index Trust |
Legal & General US Index |
Premier Miton UK Money Market |
Royal London Short Term Money Market |
|
Top Investment Trusts, August 2023 (net buys, alphabetical) |
AVI Global Trust plc ORD GBP0.02 |
Brunner Investment Trust plc Ordinary 25p Shares |
F&C Investment Trust plc Ordinary 25p |
Greencoat UK Wind plc Ordinary 1p |
India Capital Growth Fund Ltd Ord GBp0.01 |
JPMorgan Global Growth & Income plc Ordinary 5p |
NextEnergy Solar Fund Ltd Ordinary NPV |
Pantheon International Plc ORD GBP0.067 |
Pershing Square Holdings Ltd NPV |
The Renewables Infrastructure Group Limited Ordinary Shares NPV |
Source: HL
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