Withdrawals from property funds fell sharply following the Conservative Party’s decisive victory in the general election last month.

In the six days before the election, investors pulled out just under £226m from UK property funds, compared with outflows of £64m in the six days following the vote, according to data from global funds transaction network Calastone.

Property funds saw net inflows on 23 December, when £143,000 was invested, followed by just under £1m on 27 December and £769,000 on 30 December. This represents the first time property funds have seen net inflows since September 2018.

The improvement in fund flows will ease pressure on property funds, which suffered their worst year on record in 2019 with £2.2bn withdrawn – equivalent to more than £1 for every £15 invested.

Withdrawals spiked in the wake of M&G’s decision to suspend trading in the M&G Property Portfolio fund. Net outflows hit £60m on 5 December, the day after the gating of M&G’s property fund, raising fears that a wave of redemptions would force other funds to suspend trading.

“Outflows finally tailed off in the last days of 2019,” said Edward Glyn, head of global markets at Calastone. “With less immediate redemption pressure, fund managers will use the breathing space to ensure their portfolios can weather any further disruption.”

The Conservative victory also acted as a fillip to funds in other asset classes. Inflows into equity funds surged from £20m on the day of the election to £153m the day after and £181m the following Monday.

December accounted for two thirds of the total net inflows into equity funds in 2019.