Key findings include:
- Fixed-income attracted almost €6 billion in investor assets in April.
- Fixed-income funds that avoid European government debt dominated flows, with the USD high-yield bond, GBP corporate bond, global bond, and global emerging-markets bond the most popular among Morningstar’s fixed-income categories.
- April saw net inflows of more than €1 billion for allocation funds, while property funds had very small inflows.
- Equity funds experienced their second consecutive month of mild net outflows, with approximately €1 billion exiting the asset class.
- Morningstar eurozone large-cap equity suffered its fourteenth consecutive month of outflows in April, losing €900 million; Europe large-cap value equity has lost €2 billion in the year to date; and France large-cap equity suffered similar outflows.
- Alternatives, commodities, and convertibles funds saw cumulative outflows of €1.7 billion.
- Several European-domiciled ETFs focused on Euro STOXX 50 saw outflows in April, with €4 billion exiting iShares DAX.
- Alliance Bernstein American Income benefitted significantly from investors’ desire for non-European bonds, with inflows of- € 500 million in April, bringing its year-to-date inflows to €2.4 billion.
- UBS had inflows of approximately €3.3 billion--its largest monthly intake on record--driven by the firm’s equity index trackers focused on U.S., European, global, and Japanese stocks.
Full report can be reached at this LINK.
