By Adam Cadle
Net redemptions from long-term European funds reached €1.2bn in June as a result of the ongoing eurozone crisis and market turbulence, latest figures from Morningstar Direct have shown.
Other stories you may find of interest:European long-term funds investment reaches all-time high
Data linked to Morningstar’s Direct Asset Flow tables also show that equities continue to remain out of favour as an asset class. European investors withdrew more than €21bn from the broad asset class in the second quarter, with roughly €7.5bn of those redemptions coming in June.
Morningstar’s alternatives broad asset class saw more than €3bn of investor withdrawals in the second quarter, with roughly €1bn of outflows coming in June.
Investment in European long-term funds reached an all-time high last month at €4.44 trillion, Morningstar’s latest European asset flows data foundBonds most popular asset class in Q3 2011
The flight into bonds continued in the third quarter of 2011, as bond funds continued to see net inflows of €7bn while all other asset classes experienced net outflows, statistics by the European Fund and Asset Management Association (EFAMA) revealed todayUCITS experience outflows of €83bn in Q3
UCITS witnessed net outflows of €83bn in the third quarter of 2011, compared to net inflows of €18bn in the second quarter, the European Fund and Asset Management Association (EFAMA) revealed at its annual Investment Management Forum