€62.6 billion of net inflows were drawn by Europe-domiciled long-term funds in October 2024, making it the best month of the year in terms of flows.
According to Morningstar’s monthly European Asset Flows data and commentary report for October, momentum for equity funds continued, attracting €25.4 billion of net inflows in the month.
The report also found that fixed-income strategies attracted €41.8 billion of net inflows in October, the best monthly result since July 2019.
But allocation and alternative funds continued to bleed assets during the month, with €1.7 billion and €909 million of net outflows, respectively.
Meanwhile, long-term funds classified as Article 8 attracted €16.7 billion of net inflows in October. Conversely, Article 9 products shed €3.0 billion.
“In the shadow of the looming US election, stock and bond volatility picked up last month, however, equity funds were able to take in €25.4 billion of net inflows, meanwhile bond funds were showered by €41.8 billion of net new money, the best monthly result since July 2019,” said Valerio Baselli, Senior International Editor at Morningstar.
