European fund selectors who take part in this year’s EIE Fantasy Fund Picker Competition have a strong bias towards European equity funds.
Flows into European equity funds are the lowest they have been for almost a year.
Fund selector appetite for European and US equities has recently decreased sharply, the latest EIE survey data show.
Fund managers attending EIE’s Pan-European Congress said that the solution to Europe’s economic and regulatory problems is more centralised control, despite the popularity of anti-European public opinion across the continent.
Though fund selector sentiment towards the asset class has slipped, money still poured into US equity funds in the first two months of 2014.
Mifid II is, even before implementation, already triggering plenty of unease amongst Europe’s asset management industry.
Fund managers’ confidence in the performance of European equities is stronger than ever before.
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