European funds saw outflows of €119bn in 2011, says Morningstar

Equity funds saw outflows of nearly €70bn, and fixed income funds shed €44bn, according to Morningstar’s latest research into European fund flow data.

Overall net outflows hit €119bn for the year, including another €23bn in December alone, as investors fled all types of funds.

Morningstar blames this on the eurozone sovereign debt crisis, which it said caused investors to pull out of funds altogether rather than consider switching from equity to bond funds – as happened in the US market through 2011.

“Unlike 2008, when investor assets shifted from stock and bond funds to money markets, in 2011 investor capital left funds altogether,” Morninstar reports.

Money market funds did see a net €4.4bn invested in December, but flows to short-term funds remained negative over the full year.

The trends are based on data from 27,000 funds from 1,100 fund companies across 29 domiciles.

Estimated Net Flows €M Dec 2011 QTD 2011 2010
Allocation -919 -3,025 5,379 49,941
Alternative -3,360 -7,597 -2,154 22,114
Commodities 221 -260 -452 3,077
Convertibles -620 -1,859 -4,953 769
Equity -11,533 -30,867 -69,816 64,303
Fixed Income -6,814 -26,309 -43,742 86,068
Property -353 -1,904 -2,841 272
All Long Term -23,377 -71,821 -118,580 226,544
Money Market 4,454 17,824 -5,708 -101,560

 

Branding Name Estimated Net Flow 2011 €M Total Net Assets Dec 2011 €Bn Organic Growth Rate % 2011
Franklin Templeton 13,621 100 15
JPMorgan 10,808 196 6
BNY Mellon 10,789 73 17
PIMCO 9,263 63 18
BlackRock 8,436 205 5
Insight 7,783 24 47
M&G 5,230 51 11
Deutsche Global Liquidity Series 4,541 24 27
Goldman Sachs 3,715 83 5
Investec 3,377 26 14

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