European fund sales returned to the black and equity funds experienced a rapid turnaround in fortunes in April, according to the latest monthly snapshot of trends in the European fund market from Lipper Fund Management Information.

The mutual fund market analysis and research company’s Fund Flash said sales of European funds, excluding money market funds, reached a six-month high of €24.8 billion ($35.6 billion), and equity funds saw the previous month’s net redemptions of €8.5 billion transformed into inflows of €12.9 billion.

During April, total industry sales, including money market activity, hit €28.6 billion, according to Lipper, with French and international funds together reaching net sales of €6.4 billion.

The firm also said sales of bond funds improved for the fourth month in a row to reach €7 billion.

In terms of group sales, Franklin Templeton maintained its position at the top of the leader board with sales of €3.3 billion, followed by Allianz/Pimco at €2 billion, and GAM Holding at €1.3 billion, with each company giving a strong showing on the fixed income side.

Commodities and raw materials equity funds both posted impressive sales figures in April at €960 million and €860 million, taking their respective year-to-date totals to €3.7 billion and €4.4 billion.