Poll: UK investors flee shares on EU vote

UK investors, gearing for further shockwaves after Britain’s Brexit vote, slashed equity holdings in July to the lowest in at least five years, while almost halving property allocations in their portfolios.

The Reuters monthly survey of UK-based funds, conducted from July 15 to 27, is the first to fully reflect allocation shifts after the June 23 referendum on Britain’s EU membership that resulted in a win for the Leave camp.

Ripples from the vote are already reverberating through the economy, with big hits to consumer demand and property prices seen tipping the UK into recession.