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Beverly Chandler

European funds sustained net outflows in September

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Detlef Glow, Lipper’s head of EMEA research reports that the European funds industry faced estimated net outflows of EUR17.0 billion from long-term mutual funds for September.

Mixed-asset funds (+EUR2.0 billion) were the best selling asset class overall, followed by alternative UCITS products (+EUR1.8 billion) and real estate funds (+EUR0.4 billion).

 Money market products faced overall net outflows of EUR14.4 billion for September, Glow finds. The single fund markets with the highest net inflows for September were the UK (+EUR3.7 billion), Germany (+EUR1.7 bn), and Switzerland (+EUR0.4 billion). France (-EUR19.8 billion), Luxembourg (-EUR9.3 billion), and the Netherlands (-EUR4.0 billion) stood on the other side.
 
The best selling sector for September among long-term funds was Equity Eurozone (+EUR1.7 billion) and BlackRock, with net sales of EUR6.1 billion, was the best selling group for September overall, ahead of Standard Life (+EUR1.4 billion) and Vanguard (+EUR1.1 billion).
 
 The ten best selling funds gathered net inflows of EUR13.1 billion for September and        BlackRock ICS Institutional USD Liquidity Core Acc (+EUR1.7 billion) was the best selling individual fund for September.

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