Investors pulled €1.7 billion ($2.25 billion) from mutual funds in February, snapping a three-month run of inflows, as stock markets slid at the start of the year to rattle investors worried about the durability of any equity market rebound, according to the Lipper Feri “Fund Flash” report on the industry.

The main driver of inflows to funds in February was a hunt for safety, as shown by a move into money market funds and commodity products. There were €1 billion of inflows to commodity funds in February, Lipper Feri said.

There were a total of €3.3 billion of outflows from fixed income funds in February, and €2.8 billion of outflows from equity funds, although the relatively modest figure suggested that most investors believe the market was near a bottom at the time.