European mutual funds attracted estimated net inflows of €111.2bn in July, according to figures from Refinitiv.
Money market funds (+€69.0bn) were the best-selling individual asset type overall for July.
Equity Global (+€8.5bn) was once again the best-selling sector among long-term funds for July.
Ireland (+€40.8bn) was the fund domicile with the highest net inflows, followed by France (+€33.6 bn) and Luxembourg (+€28.9bn).
Amundi was the best-selling fund promoter for July overall, with net sales of €16.3bn, ahead of BlackRock (+€12.5bn) and JP Morgan (+€11.8bn).
The 10 best-selling long-term funds gathered at the share class level net inflows of €8.7bn for July.
Aviva Investors Global Sovereign Bond Zh GBP (+$1.6bn) was the best-selling individual long-term fund share class for July.
Detlef Glow, Lipper head of Emea research at Refinitiv, said: “European investors bought further back into mutual funds and ETFs in July.
“Since the global equity markets stabilised further, investors returned to long-term mutual funds because they expect the massive stimulus packages from central banks and governments globally to keep interest rates low and to foster global economic growth after the lockdowns caused by the outbreak of Covid-19 are lifted in more countries around the globe.”
©2020 funds europe
