Year-to-date net sales in the European mutual fund market reached €268.5 billion (around $358.1 billion) ex-liquidity, in November 2010, according to Lipper FMI’s monthly Fund Flash report. This indicates that full-year sales for 2010 will exceed those of 2006 which stood at €268.8 billion - the previous high over the past five years, says Lipper FMI.

Total net sales for the month of November alone reached €12.5 billion, including money market funds.

JPMorgan was named the winner of the best-selling group for the month, followed by Franklin Templeton. The report said both groups were able to complement renewed equity fund interest with continued sales of their bond fund ranges.

Schroders was the most successful equity group in November, heading the leader board with net sales of €1.5 billion.

Meanwhile exchange-traded fund activity was more muted this month, with net sales totalling €1.8 billion, 94 per cent of which moved into equity-related products, bringing year-to-date sales of ETFs to €29.3 billion in November.