Mutual Funds

Key highlights:·  The European funds industry enjoyed net inflows of €16.3 bn into long-term mutual funds for May. Mixed-asset funds (+€18.9 bn) were the best selling asset class overall, followed by bond funds (+€1.1 bn). Meanwhile, equity funds faced net outflows (-€3.1 bn).....

By Detlef Glow, Head of EMEA research

·Money market products faced overall net outflows of €12.8 bn for May, split into inflows of €1.0 bn into enhanced money market funds and outflows of €13.7 bn from money market funds.

·  The single market with the highest net inflows for May was once again Italy (+€4.9 bn), followed by Switzerland (+€2.1 bn) and Germany (+€1.5 bn). Meanwhile, Spain (-€1.5 bn), Austria (-€0.4 bn), and Finland (-€.0.2 bn) stood on the other side.

· Intesa SanPaolo, with net sales of €2.5 bn, was the best selling group of long-term funds for May, slightly ahead of BlackRock (+€2.5 bn) and Pioneer (+€2.0 bn).

· The ten best selling funds gathered inflows of €6.3 bn, 38.98% of the overall inflows for May, showing that fund flows in Europe are highly concentrated.



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