European investors withdrew more than €21 billion from equity funds in the second quarter of the year, Morningstar research shows.
€7.5 billion of those redemptions occurred in June.
Equity funds were the hardest hit in the second quarter after enjoying inflows of €3 billion in the first quarter.
The Asia ex-Japan equity category saw outflows of €2 billion in the second quarter after attracting roughly €1.2 billion in the first three months of the year.
But investor appetite for bond funds remained “insatiable”, with fixed-income funds collecting inflows of nearly €9 billion in June to reach more than €21 billion for the second quarter. Europe’s most popular bond fund for the quarter was Alliance Bernstein American Income Portfolio, which enjoyed inflows of €2.1 billion.
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