
European investors switched to a risk-off mode in March due to the global outbreak of the coronavirus and a possible recession caused by the lockdowns in a high number of countries around the world. As a result, investors faced an increased volatility on the global equity markets. Long-term mutual funds posted overall net outflows for the month. Commodity funds (+€2.2 bn) were the only asset type with net inflows for March. Conversely, bond funds (-€134.9 bn) faced the highest outflows overall, bettered by equity funds (-€48.9 bn), mixed-assets funds (-€38.7 bn), alternative UCITS funds (-€27.7 bn), real estate funds (-€1.5