Home > Investments > European
Lipper stats: European fund sales in the red
European funds suffered a €69.3bn outflow in 2011 - only the second time in a decade that sales have fallen into the red, according to Lipper.
The previous time Europewide fund sales were negative in the past decade for a calendar year was in 2008, when the industry was hit with a €298bn outflow.
Ed Moisson, head of UK research at Lipper, said December’s outflows were “considerably worse” than November’s outflows of €6.9bn.
“Perhaps hoping for a soft landing to end the year, the European funds instead suffered withdrawals of €17.3bn,” he said.
“This total worsened to €23bn when looking just at long term funds (excluding money market activity).”
In terms of asset classes, Lipper said both bonds (-€8.4bn) and equities (-€9bn) were again unpopular with investors while UK corporate bonds, global corporate bonds and high yield boasted positive numbers.
“And although emerging markets have had a rocky year, December saw a strong finish with inflows of €380m, making it the most popular equity choice,” Mr Moisson added.
But in spite of this, Lipper said BlackRock saw the greatest fund sales, excluding money market funds, totalling €14.3bn.
However, Lipper said when exchange traded funds are removed “the success of Franklin Templeton’s bond funds pushed it to the top of the table with €12.6bn”.
