Down but not completely out

Three months of solid stock market performance has done little to lift the spirits of French investors, resulting in a seventh consecutive month of long-term outflows. With stock-markets at new highs and domestic uncertainty still strong, it was no surprise that many investors chose to crystallise their gains. The net effect was long-term outflows of €2.9b in March – combined with money market withdrawals, total industry outflows were close to €6bn.

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