European investors bought into risk assets in January, despite a worsening situation with covid-19 at the time.
Equity funds saw €51.6 billion of inflows and became “by far” the best-selling asset type in the month.
Overall inflows to long-term funds amounted to an estimated €78.4 billion. Money market funds saw €11 billion of outflows.
Detlef Glow, regional head of research at Refinitiv Lipper, which produced the data, said: “Despite the deteriorating situation with regard to the Covid-19 pandemic, January 2021 was another positive month for the European fund industry since the promoters of mutual funds (+€52.3 billion) and ETFs (+€15.2 billion) enjoyed inflows.”
UBS, with €7.5 billion of inflows, was the best-selling fund promoter in Europe for January, ahead of BlackRock (+€5.7 billion), and Axa (+€5 billion).
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