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Big rise in European mutual funds

Monday, August 25 10:40:41

European mutual fund flows have shown a remarkable increase during 2014, according to the latest figures from Lipper.

Total European net sales of E252bn into mutual funds are up 34pc from the entire sales figures for 2013 (E188bn) and currently represent the highest sales figure since 2006 (E372bn).

Cross-border funds took the lionís share of sales (E171bn) in the year to date, but domestically, Italy and Spain have led the pack with a combined E40bn and the United Kingdom took the bronze medal at E13bn.

Despite an improving environment for equity funds, bond fund flows have dominated, dispelling last yearís fears of a bond bubble. Flows of E114bn have flowed into bond funds, outstripping equity fund flows of E61bn, and bond fund flows appear to be on track to surpass 2012ís bumper year, Lipper's mid-year review said.

The other notable development is the rise of flows into mixed-asset funds, with E62bn of sales, beating equities into second place.

Interest in commodities funds, which lack support from a rising US dollar, has been paltry at E53m in the year to date, continuing on from a poor 2013 (-E7bn).

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