Morningstar’s latest analysis of UK fund flows showed that fixed income saw £1.6bn in inflows throughout the month, while money markets enjoyed £2bn of net inflows.
Meanwhile, other sectors suffered, with equity funds experiencing £1.2bn in outflows, allocation losing £926m, alternative funds losing £215m and property seeing £44m in redemptions.
Passive continued to beat out active in terms of flows, experiencing £1.5bn in inflows throughout the month, compared to £2.1bn in outflows for active funds. This matches the year-long trend, which saw passives gain £11.2bn, while actives lost £35.3bn.
Sustainable funds have also continued their growth, gaining £518m in new money in January, while non-sustainable funds lost £604m. However, sustainable funds are still dwarfed in size, comprising only £164bn of assets, compared to over £1trn in non-sustainable funds.
Investors pull record £54bn from UK funds
BlackRock, the largest asset manager in the UK, gained £358m in inflows, while number two Aviva lost £340m in outflows.
BlackRock funds also took both the top and bottom spots in terms of flows, with the iShares North American Equity Index fund gaining £263m in inflows, more than it had brought in throughout the last year combined, while the iShares UK Equity Index fund saw £288m in outflows.
Meanwhile, other large fund houses also saw varying levels of success throughout January. Royal London had £342m in inflows, while Fidelity International had £292m in outflows.
Baillie Gifford was hit particularly hard, experiencing £483m in outflows, which now brings its total outflows for the last year to £9.7bn.
