Small investors poured into the stock market in April in the hope of picking up bargains, with record inflows into funds, according to data provider Calastone. A net of £2.6bn was invested in equity funds in the UK in April, the highest monthly figure on record and six times more than a typical month, it said. Most of the buying took place in the middle of the month as evidence began to emerge that rates of coronavirus infections were beginning to slow in some of the worst-hit European countries. However, by the end of the month, inflows slowed to a trickle, said Calastone. The FTSE 100 began its sharp falls on 24 February, crashing from above 7,400 points to bottom at 4,993 on 23 March. It currently stands at around 5,870. Trading in and out of funds has also been at record levels, with new peaks reached every month in 2020. The most popular destination for investors’ money has been global funds, followed by funds invested in UK equities. Investors have also turned to active rather than passive funds. Edward Glyn, the head of global markets at Calastone, said: “Fear receded in April and capital flooded back into funds in its wake. As markets began to rise sharply, investors scrambled to add to their fund holdings, eager not to miss the best month for markets in 40 years. “Greater caution set in later in month, perhaps because investors began to question how solid the foundations of the rally could be given the mounting evidence of severe economic damage around the world, as well as White House sabre-rattling over new tariffs on China.”