Global exchange-traded products, which have continued to attract money at a steady rate despite another year of uncertainty in the financial markets, have suffered their first net outflows since August 2010 as spooked investors retreated from equities.

The BlackRock Investment Institute said in its latest ETF Landscape report that $600m of net outflows were recorded in November. BlackRock attributed this to the ongoing European debt crisis, as well as US legislators' failure to come up with a long-term deficit reduction proposal.