(Reuters) - Barclays Capital on Monday said investment flows into commodities rebounded in the first quarter of 2012 with $6.9 billion worth of fresh inflows into the asset class and total assets under management bounced back to $435 billion, an all-time high.

"The strength of the quarterly inflows masks a very large bias towards commodity ETPs ($7 billion) and structured notes ($1.4 billion). In contrast, index swaps saw $1.5 billion outflow over the quarter, the fourth consecutive quarter of outflow," Barclays said in note to clients.

Since the first quarter of 2011, index swaps have had cumulative outflows of $15.9 billion, but the pace of outflows moderated in the first quarter of 2012, Barclays said.

(Reporting by NR Sethuraman in Bangalore, Editing by Phil Berlowitz)