European fund industry grows in 2017

Euro_signThe European fund industry’s assets under management have risen so far this year from €9.4 trillion to €10.2 trillion, according to Thompson Reuters Lipper.

The financial services firm’s third quarter review of the European fund industry said that the highest number of fund launches was mixed-asset funds, while bond funds showed the highest number of fund mergers and equity funds showed the highest number of liquidations for 2017 to date.

BlackRock was the largest fund promoter in Europe, followed by Amundi and JP Morgan.

BlackRock, with net sales of €84.9 billion, was also the bestselling fund promoter for the first nine months of 2017 overall, ahead of Pimco at €41.8 billion and Amundi at €39.4 billion.

Bond funds were the bestselling asset type for 2017 to date, with sales of €232.9 billion.

©2017 funds europe