European investors favoured bonds in June

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The European mutual funds industry enjoyed overall net inflows of €38.1bn into long-term mutual funds for June 2014, which drove up the net inflows for the first half of 2014 to €244.1bn, the latest Lipper Fund Flash monthly report has revealed.

The net inflows for June were driven mainly by flows into bond funds (+€19.2bn), followed by mixed-asset funds (+€12.1bn) and equity products (+€6.0bn). Also, property products (+€0.8bn) as well as alternative/hedge funds (+€0.5bn) saw net inflows, while commodity funds (-€0.001bn) and funds from the “other” peer group (-€0.5bn) faced outflows.

In addition to the long-term mutual funds, enhanced money market products enjoyed net inflows of €0.3bn, while money market funds themselves faced net outflows of €10.9bn for June. Despite these outflows, money market funds still posted net inflows of €6.0bn for the first half of 2014, Lipper showed.

Among the different asset managers, BlackRock, with net sales of €2.7bn, was the best-selling group of long-term funds for June, ahead of UBS (+€2.1bn) and Woodford Investment (+€2.1bn), Lipper also reported.

Providing early indications for July, Lipper said that looking at Luxembourg- and Ireland-domiciled funds, mixed-asset funds—with projected net inflows of around €9.3bn—should be the best selling asset class for July, followed by equity funds (+€7.2bn).



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