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However, the year’s late flurry was not enough to prevent equity funds overall from experiencing a net outflow of cash worth 1.24 billion during the course of 2023. Gilts are fixed-interest bonds issued by the government when it wants to borrow money. Bondholders receive a regular interest payment, known as the coupon, during the bond’s life, and get their original investment back when the gilt matures. A further 34 funds on its list were UK portfolios, worth collectively about 12 billion. About a third of the 151 funds in Bestinvest’s dogs ranking come from the global equity sector. Of these, about half focus on sustainable investing and “did not participate in the sharp rise in oil and gas-related shares, nor defence stocks” that took place during its review.