Assets under management in the European fund industry grew from €10.4 trillion to €10.7 trillion in the nine months to September, according to figures from Lipper at Refinitiv.
The report revealed that year-to-date to the end of the third quarter mixed-asset funds were the best-selling asset type overall, with net sales of €33.8 billion.
Within long-term mutual funds all asset types with the exception of bond funds (which fell €31.9 billion net) did well over the first nine months of 2018.
Net inflows into the European fund industry amounted to €5.9 billion during the first three quarters of the year.
With sales of €772.6 billion, BlackRock was the largest fund promoter in Europe, followed by Amundi (€357.3 billion) and JP Morgan (€311.8 billion).
With net sales of €14.8 billion, Aviva was the best-selling fund promoter for the first nine months of 2018 overall, ahead of BlackRock (+€14.6 billion) and UBS (+€11.7 billion).
The report also showed that the European fund market increased by 132 funds during the first nine months of 2018.
Equity funds showed the highest number of mergers (240), liquidations (212), and fund launches (514).
©2018 funds europe
