Further findings for November fund flows data include:
- Allocation funds, with deposits of EUR 6.4 billion, recorded their 23rd consecutive month of inflows.
- Alternative funds welcomed net inflows of EUR 1.7 billion, while money market funds recorded outflows of EUR 8.2 billion.
- Europe large-cap blend equity and Japan large-cap equity funds attracted inflows of EUR 1.7 billion and EUR 1.6 billion, respectively.
- Europe’s largest open-end fund, Templeton Global Bond, saw outflows of EUR 1 billion in November.
- PIMCO GIS Total Return posted its 10th straight month of outflows, with redemptions of EUR 939 million in November. Invesco Perpetual Income and Invesco Perpetual High Income saw outflows of EUR 688 million and EUR 364 million.
- Of the 10 largest European fund providers, UBS enjoyed the highest November inflows with EUR 1.2 billion; JPMorgan followed with inflows of EUR 1.1 billion.
Morningstar’s Ali Masarwah comments:
“As interest rates rose across the global in November and concerns about the reduction of the Federal Reserve’s asset purchase program persisted, European investors shunned bond funds. Investors sold off emerging-markets bond funds, and emerging-markets equity funds also fell out of favour. As the upward streak of the equity markets continued, funds in the European large-cap blend, Japanese equity and global equity-income categories remained on the shopping list of investors. High-yield bond funds also profited from the yield-chasing phenomenon we’ve observed for many months.”
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