Italy leads as fund sales rise

Italy on the mapItaly’s fund industry saw the highest net inflows in February at €5.6 billion, according to Lipper figures. Italian bank, Intesa SanPaolo, saw the bulk of this, with €3.4 billion worth of net flows. Germany and Switzerland saw positive flows too, at €4.8 billion and €3.1 billion, respectively. Intesa SanPaolo came second to BlackRock, which saw net sales of €6.8 billion, while Deutsche Asset & Wealth Management saw €3.2 billion of net sales. Overall, the European funds industry saw €65 billion of net inflows in February, which compares to €25.7 billion in January. The UK saw the largest outflows, at €1.8 billion, followed by Netherlands and Denmark. Lipper says eight out of the 33 markets saw net outflows. Bond funds – with estimated net inflows of €24.5 billion – were the best selling asset class overall for the month. Provisional figures for Luxembourg- and Ireland-domiciled funds suggest bond funds, with estimated net inflows of around €18.6 billion, will be the best selling products for March 2015. ©2015 funds europe

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