May was a grim month for European mutual funds

Sixteen consecutive months of net inflows into European long-term mutual funds came to an end in May, which saw net outflows of €25.3 billion.

Thomson Reuters Lipper’s monthly review of the European fund market found that mixed-asset funds were the best-selling individual asset type overall in May, with inflows of €2.5 billion.

The report also found, with sales of €5.9 billion in May, global equities were the best-selling sector among long-term funds.

Ireland (+€5.9 billion) was the fund domicile with the highest net inflows, followed by Sweden (+€1.7 billion), Jersey (+€0.8 billion), Belgium (+€0.7 billion), and Germany (+€0.3 billion).

The survey also found that:

  • Legal & General, with net sales of €5.4 billion, was the best-selling fund promoter for May overall, ahead of BlackRock (+€4.0 billion) and Goldman Sachs (+€3.4 billion).
  • The ten best-selling long-term funds gathered at the share-class level enjoyed total net inflows of €8.3 billion for May.
  • UBS’s MSCI ACWI SF Ucits Exchange-Traded Fund (h USD) Aa was the best-selling individual long-term fund for May, with inflows of €1 billion.

©2018 funds europe

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