Following the bond auction in Germany where only 65% of the offering was sold redemptions from Germany bond funds, which had largely swum against the tide year-to-date, hit their highest level since Q2 of 2008.
Meanwhile, High Yield Bond Funds saw outflows of $1bn and Emerging Market Bond Funds in both hard currency and local currency formats continued to struggle.
European and Global Equity Funds also saw outflows for the week, up to a 15-week and 16-week high respectively.
Cameron Brandt, director of research at EPFR Global, said: "The final week of November saw a coordinated effort by several major central banks to prevent a credit squeeze in Europe, the first cut in China’s bank reserve requirements since Q4 2008 and a general decline in yields demanded for eurozone sovereign debt that triggered a sharp bounce in global equity markets.
"But investors appear reluctant to chase this rally or to increase their exposure to eurozone debt."
As a whole, 2011 continues to be a tough year for actively managed equity funds, with net outflows for the period of $188.6bn compared to inflows of $79.8bn for exchange traded equity funds.
Brandt continued: "Although the last week of November saw strong rebounds in key equity markets, flows into EPFR global-tracked Developed Markets Equity Funds were still working their way through the flood of redemption orders from the previous week."
US Equity Funds were the only major group to end the week with net inflows, with Europe Equity Funds suffering badly and Japan Equity Funds posting outflows for the fifth time in six weeks.
