Investors pulled a record $9bn (€6.9bn) from Goldman Sachs Asset Management's equities funds over the three months to the end of June, contributing to its third consecutive quarter of outflows and the second worst in the firm's history.

GSAM's assets under management fell by 4.5% over the quarter to $802bn, according to its investment banking parent's quarterly results released today. This tumble was due to $24bn in net investor withdrawals and $14bn in depreciation of securities.