European funds industry saw June outflows – Lipper

Data published by Thomson Reuters Lipper points to net outflows of €11.1bn from long term mutual funds across Europe in June.

Certain classes of funds saw net inflows, such as mixed asset funds, which attracted some €12.1bn. Property and commodity funds – €0.2bn and €0.03bn respectively – also saw net inflows.

However, money market funds saw net outflows of €34.7bn through the month, helping drag overall flows into negative territory.

Investors were most keen to put money into funds in Luxembourg – where net inflows were 7.9bn – as well as Switzerland (€0.7bn) and Denmark (€0.2bn). However, one of the region’s biggest fund markets, France, saw net outflows of €25.7bn, with Ireland shedding €10.2bn and Italy €8.1bn on a net basis.

Lipper data suggests that JP Morgan had the best monthly net sales of any group – €5.4bn, ahead of Vanguard – €2bn – and HSBC – €1.6bn.

The ten best selling funds overall saw combined net inflows of €6.5bn in June, Lipper said.

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Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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