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According to Adrian Lowcock, senior investment adviser at Bestinvest, during times of economic uncertainty individuals want increased security from their savings and less risk.
He also said that there is growing concern about how the weakening economy will affect British companies.
Research by the Investment Management Association, funds under management of UK domiciled investment funds totalled £414.3 billion as of July 2008.
The figure is three per cent lower than in June and ten per cent lower the previous year.
In related news, the Insurance Times reports that the credit crunch is responsible for a rise in the number of cases of insurance fraud.
Writing for Motley Fool, Neil Faulkner commented: "As we can afford ever less due to a combination of inflation, cutbacks to overtime hours and rising unemployment, I'm sure that more people are bending their ethics."
