Fund sales in Europe pick up

graph up downLong-term fund sales in Europe hit a four-month high in July, according to Lipper, which registered net sales of €14.9 billion.

The July numbers bring the year-to-date total to €81.3 billion.

Taking money market funds into consideration, however, net sales were just €2.4 billion owing to the €12.5 billion of outflows.

On a sector level, bond funds saw inflows of €21.7 billion, making July the month with the largest total in a decade.

Also popular were high yield funds, which, across currencies, saw inflows of €7.1 billion.

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