European investors pulled cash from mutual funds at the fastest rate in almost five years in June, withdrawing €38.3bn as fears of a global trade war spooked markets.
Equity, bond and money market funds based in Europe all suffered at least €11bn in net outflows during the month, marking it the worst month for redemptions since September 2013, according to Thomson Reuters Lipper, the data provider.
The investor flight came as the White House outlined plans to impose tariffs on imports from China, rattling markets and prompting fears that a trade war could threaten global supply chains.
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