There was also “considerable growth” into mixed asset funds, which Lipper said had proven to be “particularly popular” in the UK with €12bn – second for any individual country.
“The bulk of these mixed flows have come in via the cross-border funds (€37bn) showing that the trend may be geographically wider than mere regional sales suggest,” Lipper said.
“Certainly, sophisticated products like Standard Life Gars have continued to raise the profile of the sector.”
BlackRock “maintained its number one ranking” in terms of net sales with €32bn of European sales but Lipper highlighted this figure included “a substantial book of passive business”.
“JPMorgan should be considered the top active house with flows of €21bn,” Lipper said.
The top five groups by sales – BlackRock, JPMorgan, Franklin Templeton, Vanguard and Prudential/M&G –accounted for 49 per cent of the total net sales from the top 25 groups.
BlackRock’s iShares business made it stand out in terms of passive sales, with eight of its products being the most sold for 2013 in Europe. The ninth most sold passive fund was the Db x-trackers II iBoxx Sovereigns Eurozone Yield Plus Ucits ETF run by Deutsche Asset and Wealth Management, while the Am-undi Government Bond Lowest Rated EuroMTS Investment Grade Ucits ETF had the 10th highest sales figures.
BlackRock registered the highest net sales for passive funds in 2013, while Vanguard was second and State Street third.
 (1).png?source=design-system&width=296){kind=small}
