European mutual funds post highest inflows since October 2010, Lipper

European mutual funds attracted their largest monthly inflows since October 2010, with €28.9bn in September excluding money market funds, according to data published today by Lipper.

“Appetite for high yield bond funds was still very much to the fore, with net sales for the year now just a whisker away from €40bn, with €7.6bn in the latest month,” said Ed Moisson (pictured), head of UK and cross-border research at the firm.

Assets in these funds have topped €180bn, while three years ago the total was €62.8bn.

“While this month’s story was still very much a bond affair, the previous villain of the piece – equity funds – returned to positive territory for the first time since March with net sales of €4.6bn, €1.7bn of which relates to ETFs,” Moisson added.

Much of the interest in this asset class was focused on Global Dividend funds (notably from PIMCO, DWS and M&G), but more surprising was the revival of interest in pan-European and Eurozone equities (net sales of €3.1bn, of which €1.3bn moved into pan-European and Euroland ETFs), with Threadneedle European Select, BlackRock Euro-

Markets and MainFirst Top European Ideas funds the main beneficiaries.

According to Moisson, investors’ willingness to invest was underlined by the fact that mixed asset funds also enjoyed healthy inflows in September: €3.8bn was the highest total since February last year.

“Once more asset allocation funds, generally absolute return type products, dominated here, with inflows of €3.4bn, although 27 fund launches in this sector will certainly have helped this total,” he said.

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