The performance of the four firms – whose sales equated to almost a third of European fund sales, excluding money market vehicles – marked a turnaround from the equivalent period in 2012, when Pimco was the sole US representative in the top five groups by inflows.
Pimco slipped from first to fourth this year, despite strong sales from its GIS Unconstrained Bond and GIS Income strategies – respectively the third and fourth biggest-selling funds, with inflows of €3.9bn and €3.1bn.
Franklin Templeton rose to third, meanwhile, thanks mostly to its Templeton Global Total Return Fund – the single-most popular European strategy, with sales of €7.9bn (see table).
While bond funds featured heavily in the list of best-selling products, asset allocation strategies achieved the biggest combined inflow of any sector (€31.9bn). Mixed-asset products run by JP Morgan, Standard Life and Schroders all featured in the top-ten list of funds by net sales.
- BlackRock was the biggest-selling ETF provider in H1, followed by State Street and Pimco;
- Active funds account for 88% of the European fund market, versus 75% in the US; and
- There were 1,218 fund launches and 1,662 fund closures in H1.
A PDF of the Lipper European Fund Market Mid-Year Review 2013 can be downloaded from the firm’s website, here.