Cross-border flows slowdown in September

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Fund flows in September showed a massive slowdown after strong inflows into mutual funds for the first eight months of the year, Lipper monthly report has revealed.

However, the European mutual fund industry enjoyed overall net inflows of €3.2bn into long-term mutual funds for September.

The overall flow pattern was driven by high inflows into mixed-asset products (+€8.6bn) and—compared to the rest of the year—low flows into bond products (+€1.6bn) as well as outflows from equity funds (-€5.3bn).

Alternative/hedge products (-€0.2bn), commodity funds (-€0.4bn), and funds from the “other” peer group (-€1.4bn) suffered net outflows.

Money market products faced net outflows for September, with money market funds losing €12.3bn, while enhanced money market funds enjoyed net inflows of €0.3bn.

With regard to long-term funds it is not surprising that asset allocation products (+€2.9bn) were once again the best selling asset class, followed by mixed-asset conservative (+€2.9bn) and mixed-asset balanced (+€2.5bn) funds as well as bonds EUR corporate investment-grade debt funds (+€2.0bn) and bonds flexible funds (+€1.9bn).

At the other end of the spectrum bonds USD corporate high yield once again suffered net outflows (-€4.5bn), bettered by equities Euroland (-€3.2bn) as well as equities Germany (-€2.9bn), bond global high yield (-€1.7bn), and equities United Kingdom (-€1.5bn), the report also showed.



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