While investors reacted to the spread of the coronavirus with a certain sluggishness in February 2020, COVID-19 wrought havoc in Europe's fund market in March. According to Morningstar's net flow estimates, Europe-domiciled long-term funds suffered record outflows of EUR 246 billion during the month, a staggering number that dwarfs even the darkest month in the 2007-09 financial crisis, when EUR 108 billion exited long-term funds in October 2008.
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