October sees continuation of fund outflows

European_stock_downFunds saw continued net outflows in October, the 6th consecutive month that the European industry has seen large redemptions from long-term investment products.

Bond funds saw €40.7 billion of redemptions and equity funds saw withdrawals of €31.2 billion.

Real estate had inflows of €300 million, but mixed-asset funds had withdrawals of over €9 billion, according to figures from Lipper at Rifinitiv.

France emerged as the domicile with the most net inflows (+€6.1 billion).

At the fund-promoter level, JP Morgan led the board with net sales of €7.8 billion, followed by Legal & General (+€6.6 billion) and Deutsche Bank (+€2.7 billion).

The outflows follow on from September redemptions reported recently by the European Fund and Asset Management Association.

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