European funds industry saw June outflows – Lipper
Data published by Thomson Reuters Lipper points to net outflows of €11.1bn from long term mutual funds across Europe in June.
Certain classes of funds saw net inflows, such as mixed asset funds, which attracted some €12.1bn. Property and commodity funds – €0.2bn and €0.03bn respectively – also saw net inflows.
However, money market funds saw net outflows of €34.7bn through the month, helping drag overall flows into negative territory.
Investors were most keen to put money into funds in Luxembourg – where net inflows were 7.9bn – as well as Switzerland (€0.7bn) and Denmark (€0.2bn). However, one of the region’s biggest fund markets, France, saw net outflows of €25.7bn, with Ireland shedding €10.2bn and Italy €8.1bn on a net basis.
Lipper data suggests that JP Morgan had the best monthly net sales of any group – €5.4bn, ahead of Vanguard – €2bn – and HSBC – €1.6bn.
The ten best selling funds overall saw combined net inflows of €6.5bn in June, Lipper said.
For a full report follow this link: http://lipperinsight.thomsonreuters.com/
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