European funds report €41bn inflows
The European fund industry reported inflows of €41bn in long-term mutual funds in July 2014, according to the latest data released by Lipper’s monthly European Fund Market Review.
Bond funds reported with €18.6bn the majority of inflows, followed by multi asset products, reporting a positive inflow of €13.0bn, equities had net inflows of +€11.8bn.
Meanwhile, alternatives and hedge funds reported outflows of -€04.bn while property funds suffered outflows of-€0.5bn.
In terms of geographical allocation, Lipper describes the picture as “mixed but positive,” with only 9 of 33 markets surveyed showing outflows. With regard to single fund market flows for long-term funds, Italy (+€5.3bn) and Spain (+€2.7) recorded again the highest level of inflows, while France (-€0.9bn), Portugal (-€0.1bn) and Greece (-€0.05bn) reported net outflows.
Per company, Blackrock reported the highest net sales of +€4bn, followed by DeAWM with +€3.2bn and JP Morgan with +€3bn.
Looking aheads, Lipper suggests that Luxembourg- and Ireland-domiciled long-term mutual funds, bond funds—with projected net inflows of around €5.8bn—should be the best selling asset class for August, followed by equity funds (+€4bn) and mixed-asset products (+€2.1bn).