Equity funds, including ETFs, saw €58.9 billion of inflows in December, latest figures show.
Equity was the best-selling individual asset type in Europe during the month, according to Lipper.
Net flows into long-term mutual funds sector for the month were described as “strong”, at an estimated €122.4 billion.
But Detlef Glow, Lipper’s head of regional research, also said the high level of inflows was surprising due to uncertainties around the outcome of the presidential election in the US and a possible hard Brexit.
“In addition, investors feared a second coronavirus lockdown-induced economic downturn in Europe. Despite these fears, investors bought into risky assets as long-term funds enjoyed estimated net inflows of €90.6 billion, while money market products had estimated inflows of €31.7 billion.”
Axa VF – Bonds Global Aggregate T, with €1.6 billion of inflows was the best-selling individual long-term fund share class for December.
© 2021 funds europe
