Long-term fund sales hit €191bn in November, Lipper

Long-term fund sales (excluding money market funds) reached €22.3bn in November, bringing the year-to-date total to €191bn, making full-year figures of €200bn in net sales seem more than likely, Lipper’s latest monthly snapshot of European fund flow trends showed.

“It seems likely that cross-border funds will reach the €200bn mark by the year-end too, having so far attracted €187.2bn in 2012 (€13.1bn in November). Cross-border funds now make up 43% of the European funds industry’s assets under management,” said Ed Moisson (pictured), head of UK and cross-borser research.

When money market funds are included, the month’s total is less positive, with net sales of €15.1bn this month, as investors withdrew from Euro and Sterling denominated funds.

Bond funds enjoyed inflows of €20.7bn, the fifth month in a row above the €20bn mark, bringing net sales of funds in this asset class over the year-to-date to €204.3bn.

Five groups attracted net sales of more than €1bn this month: PIMCO (€3.2bn), AXA (€2.1bn), Standard Life (€1.2bn), Aberdeen (€1.1bn) and Nordea (€1bn). €10bn looks to be the target for groups wanting to be in the top five best sellers in the full-year figures.

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