News

Global equity wins as broad fund outflows continue

EquitySeptember saw Europe’s investment fund industry see more outflows, although global equity did reasonably well as a sector and the UK was the domicile with the most net inflows.

Net outflows of €40.5 billion were registered in what was the fifth consecutive month of redemptions.

The global equity sector saw €3.3 billion of net inflows, while funds domiciled in the UK saw the highest net inflows, at €2 billion, followed by Switzerland and Norway.

The UK inflows were powered overwhelmingly by equities, according to the Lipper at Refinitiv data. Lipper at Refinitiv is the firm formerly known as Thomson Reuters Lipper.

Real estate funds were the best-selling individual asset type overall for September with €800 billion of new money.

Goldman Sachs was the best-selling fund promoter with net sales of €2.7 billion, followed by CPR Asset Management and Royal London Asset Management.

The Nikko Listed IDX Fund Topix, with €700 million, was the best-selling individual long-term fund.

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