European investors favoured equities in January

European fund flows were mainly driven by flows into equity funds (+12.9bn), the latest European Fund Market Review from Lipper revealed.

The European mutual fund industry enjoyed overall net inflows of €23.7bn for long-term mutual funds in January, the report showed.
Opposite to the previous month, for January money market
products enjoyed net inflows (+€25.2bn).

While equity funds dominated the scene with net inflows of €12.9bn,  mixed-asset funds attracted positive flows of €7bn.

In addition, bond funds saw net inflows of €5bn. On the other side of the table, alternative/hedge funds (-€0.003bn) stood nearly flat, while property products (-€0.3bn) as well as “other” products (-€0.3bn) and commodity funds (-
€0.6bn) showed moderate net outflows.

Single fund market flows for long-term funds showed a mixed picture for January, with Norway (+€3.8 bn), France (+€2.9 bn), and Spain (+€2.0 bn) leading the table. Meanwhile, the United Kingdom (-€0.8 bn), the Netherlands (-€0.7 bn), and Denmark (-€0.6 bn) stood on the other side.

Den Norske Bank (DNB), with net sales of €5.7 bn, was the best-selling group of long-term funds for January, ahead of BlackRock (+€3.0 bn) and Deutsche Asset & Wealth Management (+€1.9 bn).

Provisional February figures for Luxembourg- and Ireland-domiciled funds suggest that equity funds, with estimated net inflows of around €9.6 bn, will be the best selling products for February 2014.



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