Investors withdrew nearly € 290 billion from European open funds in March, a historic record. The flight of investors combined with the fall in the markets represents a double penalty for the sector.
An unprecedented hemorrhage. European open funds accused nearly 290 billion euros of outflow in March, a historic record, according to Morningstar data provided exclusively to “Echoes”. Active or passive funds, ESG or not, all recorded outflows, often massive, over the past month. “The collapse of the markets pushed investors to sell everything to raise cash,” says Ali Masarwah, in charge of the analysis of this data at Morningstar. Enough to put pressure on a sector which has benefited from favorable winds in recent years thanks to the continuous rise in the markets.