Market volatility failed to halt strong sales of long-term mutual funds in March as the European industry saw €3.5 billion of net inflows – the vast majority into equity products.
The fifteenth consecutive month of positive flows into long-term funds (which excludes money market products) included investors placing €3.4 billion in equity funds and redeeming €3 billion from bond funds.
A further €3.2 billion went into mixed asset funds and €2 billion into Ucits funds that invest in alternative assets.
The best-selling long-term fund sectors were global emerging markets equities followed by European bonds.
The data from Thomson Reuters Lipper also showed that exchange-traded funds accounted for €700 million of the net inflows.
Money market products saw the highest redemptions (€9.7 billion) and this meant that overall business was negative, with a net outflow of €6.2 billion for all funds.
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