In the week ending 1 September, European large caps recorded their second week of outflows, according to data from TrackInsight, as the euro continues to strengthen against sterling and the US dollar.
Over the past three months the euro has risen 7% to around $1.20, which has a knock-on effect on stocks in the eurozone, with the majority being exporters.
As a result, European large caps saw outflows of €221m during the week ending 1 September, following the previous week's outflows of €307m.
Investors also cut back on US large-cap ETFs amid continuing tensions between the US and North Korea, with outflows from this area reaching €1.3bn.
Global stock ETFs were the most popular equity category, recording inflows of €1.4bn while emerging market ETFs also posted strong sales of €784m.
Small caps recorded minor outflows of €68m, while Asian large caps saw small inflows of €29m.
In the fixed income space, investors continued to have an appetite for investment grade and government bonds, which recorded inflows of €1.5bn and €1.2bn respectively.
All bond ETFs were in the black this week, as high yield and emerging market bond ETFs recorded inflows of €704m and €374m respectively.
TrackInsight's data covers both US and European-listed ETFs that in combination make up around 70% of the total market.
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