European ETF industry suffered net outflows for first since February 2016 as investors fret over global slowdown
Despite rebounding equities and low interest rates, fixed income funds were best-selling asset class in February
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€62.3bn pulled from long-term funds, writes Detlef Glow, head of Lipper EMEA research at Refinitiv
Despite meagre returns, October saw the highest monthly flows into money market funds in over a decade at €52.5bn
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Total fund sales for the first half of year across Europe was €59.8bn about six times lower than €362.4bn first-half sales in 2017. But ETF market share hits record high, according to Thomson Reuters Lipper data.
Global emerging market (GEM) equities have been one of the most popular asset classes among pan-European fund selectors since Q3 2015 – but demand dropped dramatically during Q2 2018.
Iberian fund selectors’ appetite for index-tracking products took a sharp dip in the first quarter as volatility shook the markets.
US dollar denominated money market funds topped the charts in terms of inflows for January this year, while UK sterling funds saw the biggest outflows from this sector, according to the latest Thomson Reuters Lipper data.