Long-term mutual funds in Europe in February saw net inflows of €22.6 billion, with bond funds – which saw net inflows of €30.4 billion – the best-selling individual asset type.
According to Refinitiv’s monthly inflows report, global equities (with inflows of €6.7 bn) was the best-selling sector among long-term funds for February.
Meanwhile, Luxembourg (with inflows of €8.3 bn) was the fund domicile with the highest net inflows, followed by Ireland (+€4.2 bn) and Spain (+€2.4 bn).
Pimco was the best-selling fund promoter for February overall, with net sales of €2.9 bn, ahead of Goldman Sachs (+€2.6 bn) and Fidelity International (+€2.5 bn).
The ten best-selling long-term funds gathered at the share-class level amounted to net inflows of €12.0 bn for February.
However, the data also showed that equity funds (-€1.4 bn), real estate funds (-€2.3 bn), and alternative Ucits funds (-€4.3 bn) all suffered outflows.
Detlef Glow, Lipper Head of Emea Research at Refinitiv, said: “European investors switched to a risk-off mode in February due to uncertainties over a possible shortage in supply chains caused by the outbreak of the coronavirus in China and the respective increased volatility on the global equity markets. Nevertheless, long-term mutual funds posted net inflows for the month.”
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