Money market funds have been the losers since the credit crisis subsided and investors became willing to embrace risk again, but last week these funds had their best-ever inflows as terror gripped markets and stocks were dumped en masse.

To coincide with the fourth anniversary of the credit crisis, fear once again hit equity markets. This time there seemed to be no good reason - save a couple of rumours about European banks and the ongoing financial struggles in eurozone countries - but investors dumped their stock, bond and alternative asset allocations in droves.