Brexit causes withdrawals - Europe FlowWatch June 2016

During the month of June, investors redeemed a net €12 billion from long-term funds in European and cross-border markets. Equity and mixed vehicles suffered the most net withdrawals at €21 billion combined amid market volatility due to Brexit. On the other hand, bond and ‘other’ products benefited from investors' flight to safety, garnering a collective €10 billion in net subscriptions for the month.

At the category level, Absolute Return funds led with roughly €4 billion in net new money, while Bond USD and Equity Global followed with about €3 billion each. In contrast, Equity Europe and Equity Asia Pacific funds collectively experienced nearly €16 billion in net redemptions during June.

Credit Suisse’s PK CSG World Equity I fund, an Equity Global product available only for qualified investors in Switzerland, was the bestselling fund in the month with over €3 billion in net flows.

More details on top-selling funds, new launches, investment categories, regional highlights and management company progress can be found in the report.