Figures from The Investment Association also revealed that £1.4bn was withdrawn from property funds, resulting in a 5.7% outflow.

The Investment Association claimed Brexit had unsettled investors, contributing to the exodus.

Despite the size of the withdrawals, Michael Strange, director of Funding 365, insisted that only a select group of “knee-jerk” investors were to blame.

"While the initial headline of a £2.8bn investor withdrawal seems like a shockingly negative development, it is not clear to me that this is the case.

“Most of the investor withdrawal was from retail investors, many of whom were pensioners who are increasingly able to manage their own pension investments.

“It is not difficult to imagine that pensioners were more influenced by the negative press headlines around Brexit than a global institutional investor would be – and therefore [they] would have a knee-jerk reaction to sell holdings.”

Paul Wertheim, operations director at Mint Bridging, agreed that this withdrawal was minor in relation to the total funds under management of £948bn.

•   LendInvest urged to relocate to Berlin following Brexit
•   P2P lending dip blamed on economic uncertainty and authorisation process
•   Borro funds £555k loan to overseas resident

“Having some close friends as independent financial advisers servicing high-net-worth individuals, they also have reported very little upset in the marketplace.”

However, Benson Hersch, CEO of the Association of Short Term Lenders, warned that the UK economy could yet face even bigger challenges.

“I do have concerns about European banks, especially Italian ones, and problems could well spread to these shores.”

Benson admitted that he was unsure when this economic uncertainty would settle.

“It’s anyone’s guess when investor confidence will return, as there is an overlay of emotion which affects this. It may well be a choppy ride for some time.

“Bravery by investors may or may not be rewarded.”

Despite this, Paul suggested that the best way to avoid fallout from Brexit was to stop worrying about it.

“… Brexit has not ended the world, yet any change brings uncertainty and nervousness.

“We could easily talk ourselves into a recession and the worst thing that could happen is the banks stop lending and bridging firms cease bridging.

“Yes, Brexit was a shock to the system, and now it’s time to get on with the job in hand.”