December showed a negative picture for long-term mutual funds; the European fund promoters faced net outflows from alternative UCITS funds (-€2.5 bn), bettered by bond funds (-€2.0 bn) and “other” products (-€0.8 bn). …
By Detlef Glow, Head of EMEA research
On the other side of the table equity funds (+€1.6 bn) were the asset type with the highest net inflows in the long-term mutual fund segment for December, followed by mixed-asset funds (+€1.1 bn) and real estate funds (+€0.1 bn) as well as commodity products (+€0.1 bn).
These fund flows added to overall net outflows of €2.3 bn from long-term investment funds for December.
Money products (+€3.7 bn) enjoyed net inflows for December.
The single fund domiciles with the highest net inflows for December were Ireland (+€23.5 bn), driven by money market products (+€20.1 bn), followed at a distance by Sweden (+€1.9 bn), Belgium (+€1.6 bn), Spain (+€1.0 bn), and Denmark (+€0.7 bn).On the other side of the table France was the single fund domicile with the highest net outflows (-€16.7 bn), bettered by Luxembourg (-€5.0 bn) and the Netherlands (-€4.8 bn).
Bond EUR Short Term (+€2.6 bn) was the best selling sector among long-term funds.
BlackRock, with net sales of €8.6 bn, was the best selling fund promoter for December overall, ahead of JP Morgan (+€5.3 bn) and Goldman Sachs (+€4.0 bn).
The ten best selling long-term funds gathered at the share-class level total net inflows of €9.0 bn for December.
Parworld Lyra Classic Plus Cap (+€3.6 bn) was the best selling individual long-term fund for December.