These are the highest weekly outflows ever recorded, and are higher than the highest monthly net outflows registered this year: €3.4bn in August.
The exodus from European equities follows the price implosions across European stock markets this month. Since the start of the month, all main European stock indices have lost around 10% in value, with the price drops continuing unabated on Monday.
The outflows contrast strongly with the strong net inflows seen since the third quarter of 2013. Net inflows into European equity funds from July 2013 to June this year totalled some €53.7bn.