Mixed asset tops sales as European funds industry rebounds

European flagsEuropean fund sales bounced back in January after a weak December, with mixed asset products emerging as the best selling asset class once more.

The industry enjoyed inflows of €25.7 billion into long-term mutual funds during the first month of the year, according to data company Lipper’s latest research.

Mixed asset funds saw inflows of €15.6 billion. Ranking second were bond funds with net sales of €7.6 billion, and then equity funds with €2.5 billion.

Alternative/hedge products and commodity funds also saw small inflows during January, but property funds and ‘other’ products suffered net outflows of €0.4 billion and €1.3 billion respectively.

However, only ten out of 33 countries saw positive inflows in January. Switzerland fared best with inflows of €4.1 billion, followed by Germany and Italy. The UK experienced the greatest outflows at €3.2 billion in January, and the Netherlands and Denmark each saw small losses of less that €1 billion.

Italy dominated European fund flows for 2014 with €47 billion in net sales, according to Lipper’s recent full year report.

BlackRock, with net sales of €6.1 billion, was the best selling group of long-term funds for January, ahead of UBS and State Street.

Lipper also reports that provisional figures for Luxembourg and Ireland domiciled funds suggest that bond funds, with estimated net inflows of around €24.3 billion, were the best selling products in February 2015.

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