BlackRock was the best-selling fund promoter in Europe for June, with net sales of over €11 billion.
Long-term mutual funds in the region fared well for the month, enjoying net inflows of €90.5 billion, primarily driven by bonds which drew in around a third of new investor cash.
In terms of fund managers, BlackRock was followed by Ing and JP Morgan, which both received around €8.5 billion, according to research from Refinitiv.
Detlef Glow, regional head of research at Refinitiv, said investors returned to long-term mutual funds following the further stabilisation of global equity markets. Global equity funds attracted around €12 billion of inflows.
Investors “expect the massive stimulus packages from central banks and governments globally to keep the interest rates low and to kickstart economic growth after the lockdowns caused by the outbreak of Covid-19 are lifted in more countries around the globe”, he said.
Luxembourg was the fund domicile with the highest net inflows (€28.3 billion), followed by Ireland (€26.4 billion and France (€22.1 billion).
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