Asset managers' recent interim results have been peppered with words like "challenging" and "difficult", as risk aversion among investors grows and fund outflows hit multi-year highs.
European investment managers suffered the worst month for fund flows in five years in June, according to Morningstar data, across active and passive offerings. Bond funds saw outflows of nearly €11bn across the industry, while equity funds reported €6bn heading for the door. Investors particularly shied away from Japan (€1.6bn equity outflows), Europe (€1.5bn outflows), and emerging markets (€3.3bn in outflows across debt and equity). UK equity funds outflows soar in May with almost £10bn withdrawn since Brexit However, healthy earnings growth and ongoing fiscal spending in the ...
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