November saw net outflows of €42.6 billion from Europe-domiciled long-term mutual funds, according to figures published today by Lipper at Refinitiv.
The outflows marked the seventh month in a row of net outflows from European mutual funds following 16 consecutive months of net inflows.
Real estate funds (+€0.6 billion) were the best-selling individual asset type overall for November while global equities (+€6.5 billion) was the best-selling sector.
Sweden (+€0.2 billion) was the fund domicile with the highest net inflows in November, followed by Jersey (+€0.1 billion) and Germany (+€0.1 billion).
State Street, with net sales of €3.1 billion, was the best-selling fund promoter for November overall, ahead of Aviva (+€2.6 billion) and BlackRock (+€2.1 billion).
The ten best-selling long-term funds gathered at the share-class level total net inflows of €15.7 billion for November.
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