The Initial highlights of Lipper FMI’s latest monthly snapshot of European fund flow trends, as at end November 2009, follow below.
Long-only monthly flows fell back to 23 billion, a good 10 billion lower than the sales volumes recorded since July. Nonetheless, YTD sales stand at 200 billion and full year sales are likely to be in the 220-230 billion range.
There was sales contraction in all asset classes but equity products sustained the worst of the falls. Here, flows represented just half of the October total in response to faltering stock markets. However, while local sectors suffered, global equity saw sales almost double to 1.8bn.
In the bonds arena, investment grade bonds were back on top, pushing Emerging Market Bond funds back into second place. Euro bonds were snapping at their heels with the flow difference counted in the millions.
The strongest net inflows for the month was Deutsche/DWS (excluding money market funds and funds of funds).
Likewise, the strongest equity flows was also Deutsche. Two ETFs, DJ Dax and Emerging Market Trn Index, were the best sellers.
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D.C.