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September 2013 in Brief
September 2013 was, generally speaking, a good month for long-term funds, but when we look at all fund types, the European fund industry faced massive net outflows (-€9.2bn). These flows were mainly driven by outflows (-€22.7bn) from money market funds. Other than these outflows, however, the majority of the other sectors showed a healthy pattern, with equity funds attracting inflows of €10.3bn, followed by mixed-asset funds (+€3bn), commodity funds (+€0.3bn), and hedge fund-like UCITS funds (+€0.2bn). On the other side of the table bond funds faced slight net outflows of around €42m, while “other” funds saw net outflows of €0.4bn.
Over the course of the year 2013 so far, the European fund industry has enjoyed net inflows of €150bn, driven by inflows into bond funds (+€91.6bn), mixed-asset funds (+€65.8bn), and equity funds (+€54.8bn). In contrast, money market funds have shown the highest net outflows (-€68.7bn) for 2013 so far.
Following the ongoing sales pattern for long-term funds, equity Europe was the most popular asset class for September (+€4.7bn of net inflows), followed by equities global funds (+€3.6bn) and asset allocation funds (+€2.8bn), as well as bond USD corporates high yield (+€2bn). At the other end of the spectrum equities Germany suffered outflows of around €1.8bn, bettered somewhat by bonds USD (-€1.8bn), bonds EUR (-€1.2bn), guaranteed funds (-€1.1bn), and bond emerging markets funds/local currencies (-€0.9bn). Read more
European Fund Market Review
Lipper's annual review of the European funds industry provides over 45 pages packed with sales and assets data on activity in different markets, as well as a look at which groups and products prospered in 2012. The report includes unique data on cross-border activity, as well as commentary on various issues that impact the industry over the near term and long term.
You can view the report by clicking here