European inflows close in on €200bn but UK struggles

European equity funds saw nearly €1bn (£820m) of outflows during November, in spite of the rally in risk assets, according to data from Lipper.

The €940m (£774m) outflows were mainly in developed market funds, as general emerging market funds saw net inflows of €2.1bn (£1.73bn) and China funds brought in €870m (£716m) as investors took advantage of the stock market rally in the world’s second largest economy.

UK funds had a week month, seeing net inflows of €40m (£33m) due to net withdrawals from UK equity funds, corporate bond funds and gilts.

Article continues after advert

Lipper predicted that total European inflows likely topped €200bn (£165bn) during 2012 as €22.3bn (£18.3bn) of inflows during November pushed the 11-month total to €191bn (£157.2bn).

During November, five fund groups brought in more than €1bn of inflows, including PIMCO (€3.2bn), AXA (€2.1bn), Standard Life (€1.2), Aberdeen ((€1.1) and Nordea (€1bn).