France leads European inflows in October

France was the fund domicile in Europe that drew the bulk of investors’ cash in October, as inflows were seen across the asset management industry.

Investors sunk net €20.6 billion into the country, which narrowly led ahead of the UK – which saw €20.4 billion of new cash – in terms of fund domicile flows. Ireland also saw inflows to the tune of €14.4 billion, according to data from Refinitiv. 

Overall net inflows into long-term mutual funds reached around €69 billion, primarily driven by equity funds which attracted over €30 billion. 

Money market funds and bond funds were also seen favourably, taking in €17.8 billion and €17.4 billion respectively. 

Detlef Glow, regional head of research at Refinitiv, said: “The market environment turned negative as the second wave of the Covid-19 pandemic hit major markets in Europe and investors feared a second coronavirus lockdown-induced economic downturn. 

“Despite these fears, investors bought into risk assets as long-term funds enjoyed estimated net inflows.”

© 2020 funds europe

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