Annus Horribilis for the European Funds Industry
Morningstar European fund flow data shows outflows of over €119 billion from long-term funds in 2011.
Nearly €70 billion flows out of equity funds in 2011; €44 billion leaves fixed income
Money market funds saw the strongest inflows in December, with €4.4 billion, but flows to short-term funds were negative for the year
Morningstar’s EUR money market short term andEUR money market were the least popular money market categories in 2011, with more than €44 billion in outflows
Guaranteed funds were especially unpopular in December and throughout the year
Europe’s largest and third largest fund companies, JP Morgan and BlackRock, retained their positions in 2011, due mostly to their USD and GBP money market businesses
For 2011 as a whole, Franklin Templeton still looks like the big winner among Europe’s largest fund families with organic growth of more than 14%
Full report can be reached at this HER.
