European fund sales amounted to €22 billion (around $28 billion) for July with bond sales more than doubling whilst equity sales plummeted from €1.4 billion to €600 million, according to Lipper FMI’s latest monthly report on European fund flow, FMI European Fund Flash September 2010.

Long-term fund sales improved from last month’s €16 billion, showing a year-to-date accumulation amounting to €168 billion.

The French market sustained outflows of €3 billion, two-thirds of which came from liquidity funds, whilst German investors contributed inflows of €3 billion. Overall European money market outflows for the year to date remained at €92 billion.

Bond sales shot up to €15 billion with Allianz/Pimco and Franklin Templeton, which also headed up the rankings for best overall group, achieving the most sales, each more than €2.1 billion.

Equity wise, Aberdeen led with €900 million in sales, of which €390 million came from its global emerging markets fund.

Lipper, owned by Thomson Reuters, provides regional coverage of fund markets from 16 research centres worldwide. It provides research on more than 213,000 collective investments domiciled in 61 countries.