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Mixed Picture In September For European Funds Industry - Lipper
Natasha Taghavi
12 November 2013
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 , 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.