Stock market volatility in recent months is likely to have exacerbated a trend away from equities that has been evident for most of the year, according to new industry reports.

The European Fund and Asset Management Association's first-half report found a £7bn (€10.3m) net outflow from equities in the six months to June. EFAMA tracks all European funds that comply with the EU's UCITS regulations, Europe-wide standards for mutual funds.