Europe’s long-term fund sales at €28.8bn in February, Lipper

Long-term fund sales (excluding money market funds) in Europe totalled €28.8bn in February, above the €20bn mark for the seventh consecutive month, according to Lipper’s latest monthly snapshot of European fund flow trends

Money market fund sales were essentially flat at €240m, as investors withdrew from £ and €-denominated funds, while investing in US$-denominated funds, thus moving industry-wide fund sales up to €29bn when this activity is included.

Mixed assets funds attracted inflows of €7.9bn in February, representing the best start to the year for the asset class in Lipper’s sales records (since 2002).

Cross-border funds attracted inflows of €22.2bn (excluding money market funds), nearly 50% lower than January’s total, although still above the 2012 monthly average of €18.3bn.

JPMorgan made a return to the list of best-selling groups with inflows of €1.6bn, behind BlackRock (€3.2bn) and PIMCO (€2.0bn). Aberdeen (€1.4bn) and Franklin Templeton (€1.3bn) also enjoyed net sales above €1bn this month.

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