November showed a negative picture for long-term mutual funds; the European fund promoters faced net outflows from bond funds (-€19.2 bn), bettered by alternative UCITS funds (-€1.0 bn), mixed-asset products (-€0.9 bn), and “other” products (-€0.1 bn)……
By Detlef Glow, Head of EMEA research
On the other side of the table equity funds (+€6.7 bn) seemed to be back in the favor of European investors; these products were the best selling asset type in the long-term segment for November, followed by commodity funds (+€0.3 bn) and real estate funds (+€0.3 bn).
These fund flows added to overall net outflows of €14.0 bn from long-term investment funds for November.
Money products (+€14.2 bn) enjoyed net inflows for November.
The single fund domiciles with the highest net inflows for November were France (+€4.3 bn), driven by money market products (+€3.8 bn), was the fund domicile with the highest net inflows, followed by Ireland (+€4.1 bn), Germany (+€2.3 bn), the United Kingdom (+€2.3 bn), and Switzerland (+€2.1 bn).
Equity Global (+€3.8 bn) was the best selling sector among long-term funds.
Amundi, with net sales of €3.8 bn, was the best selling fund promoter for November overall, ahead of BNP Paribas (+€2.8 bn) and Credit Suisse Group (+€2.4 bn).
The ten best selling long-term funds gathered at the share-class level total net inflows of €8.5 bn for November.