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 €MDec 2011QTD20112010
Allocation-919-3,0255,37949,941
Alternative-3,360-7,597-2,15422,114
Commodities221-260-4523,077
Convertibles-620-1,859-4,953769
Equity-11,533-30,867-69,81664,303
Fixed Income-6,814-26,309-43,74286,068
Property-353-1,904-2,841272
All Long Term-23,377-71,821-118,580226,544
Money Market4,45417,824-5,708-101,560

 

Branding NameEstimated Net Flow 2011 €MTotal Net Assets Dec 2011 €BnOrganic Growth Rate % 2011
Franklin Templeton13,62110015
JPMorgan10,8081966
BNY Mellon10,7897317
PIMCO9,2636318
BlackRock8,4362055
Insight7,7832447
M&G5,2305111
Deutsche Global Liquidity Series4,5412427
Goldman Sachs3,715835
Investec3,3772614

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