The European funds industry amassed net outflows of €9.2 billion ($12.33 billion) for September, which brought the estimated net inflows for the year-to-date period to €150 billion, according to Lipper, the fund research firm that is owned by Thomson Reuters.

The European funds industry amassed net outflows of €9.2 billion ($12.33 billion) for September, which brought the estimated net inflows for the year-to-date period to €150 billion, according to Lipper, the fund research firm that is owned by Thomson Reuters.

Lipper found that single fund market flows of long-term funds showed a mixed picture for September, with Spain (+€1.4 billion), Italy (+€1 billion), and Sweden (+€0.3 billion) leading the table.

Meanwhile, Germany (-€0.9 billion), Greece (-€0.5 billion), and Denmark (-€0.2 billion) suffered net outflows. Even as equity funds showed impressive inflows for September 2013, bond funds—with estimated net inflows of €91.6 billion—remained the best-selling asset class for 2013 year-to-date, the firm said.

BlackRock, with net sales of €2.2 billion, was the best-selling group of long-term funds for September, ahead of JP Morgan Asset Management (+€1.2 billion) and Invesco (+€0.8 billion).

Provisional October figures for Luxembourg-and Ireland-domiciled funds suggest that money market funds, with estimated net outflows of around €11 billion, are continuing their longer-term trend, the firm said.