Investment management firm Federated Investors registered $8bn (€6.3bn) in outflows for the month of April, more than any of its peers, while T Rowe Price recorded the highest inflows garnering $1.5bn, in a month when growth was favoured over value but net flows were down overall.

Money market funds had the toughest time in April, losing a total of $27bn, according to Merrill Lynch's most recent asset management industry overview.