After hitting a ten-month low in March, European fund sales recovered throughout April clocking inflows of €24.8bn, with equity funds coming out on top.
The latest statistics from data provider Lipper showed that bond fund sales reached €7bn in April while equity funds saw a €12.9bn inflow. This represents a stark contrast to the dismal figures posted in March when funds overall posted just €330m in inflows and equity funds saw €8.5bn in redemptions.
According to Lipper, Franklin Templeton maintained its position at the top of the leader board in terms of group sales with €3.3bn, ahead of Allianz/Pimco which registered €2bn in sales and GAM Holding with €1.3bn. Each company gave a strong showing on the fixed income side, Lipper said.
The figures showed that sales activity in cross-border funds came "roaring back" in April. Funds tagged "international" by the firm saw €21.8bn in net sales. Lipper found that of these, bond sales were strongest at €10.6bn, ahead of equities at which registered €7.8bn in sales.
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