December outflows hit Europe’s funds industry
Europe’s funds industry saw net outflows of €1.4bn in December from long term mutual funds, according to data published by Lipper.
However, this average masks wider dispersion in the performance of the different markets within the region: some 12 out of 33 markets included in the data saw net inflows through the month.
Italy was the market with the biggest inflows, €2.5bn, followed by Sweden on €2.2bn, and the UK on €2bn.
In contrast Norway saw net withdrawals of €-2.6bn, and Portugal of €-2bn, according to the data.
The three best selling brands were Vanguard, €2.6bn, Nordea, €1.3bn, and Amundi, €1bn.
Looking to January figures, which are yet to be confirmed, Lipper suggests that Luxembourg and Ireland domiciled bond funds have attracted the biggest net inflows for the start of the year of around €11bn.