bulletEDITOR'S PICKS

 

Serious Fraud Office to investigate Timothy Schools and Axiom

From Products Aug 29 2014 @ 17:16

Timothy Schools, the former manager of the failed legal financing fund Axiom, is being...
view article

FCA fines and bans broker over 'dishonest' UCIS sales

From United Kingdom Aug 29 2014 @ 11:18

The Financial Conduct Authority has fined and banned an IFA for life after he was found to have...
view article


bulletRELATED ARTICLES

 

bulletNEWS

 

LATEST NEWS

Matthews Asia launches new Strategic Income Fund

Matthews Asia launches new Strategic Income FundMatthews Asia has launched a new strategic income fund, as an expansion of its...
view article

Barclays to sell Spanish wealth arm, completes...

From Europe Sep 1 2014 @ 11:30

VAM launches frontier equities strategy

From Products Sep 1 2014 @ 10:43

MORE FROM Products

LATEST NEWS

Worried about fine inflation, Woodford sells HSBC

Worried about fine inflation, Woodford sells HSBCNeil Woodford has sold his recently acquired stake in HSBC, on the back of...
view article

Serious Fraud Office to investigate Timothy...

From Products Aug 29 2014 @ 17:16

Jupiter strengthens Nordic presence with...

From Europe Aug 29 2014 @ 12:11

MORE FROM Products

LATEST NEWS

Axiom investors urged to come forward

Axiom investors urged to come forwardLaw firm Regulatory Legal is appealing to investors into the suspended Axiom Legal...
view article

FCA fines and bans broker over 'dishonest' UCIS...

From United Kingdom Aug 29 2014 @ 11:18

M&G to launch new floating rate note fund

From Products Aug 29 2014 @ 09:46

MORE FROM Products



Shariah-compliant fund inflows buck fund sales crash

From Products Jul 10 2012 BY: Gary Shepherd , Editor , Portfolio Adviser

Add to My News Comments (0)

Add to My News Print

Add to My News

add to twitter

add to linkedin


European investors withdrew €13.1bn from equity funds in May, while bond funds hit their lowest monthly total inflows of the year at €6.6bn, according to Lipper.

European investors withdrew €13.1bn from equity funds in May, while bond funds hit their lowest monthly total inflows of the year at €6.6bn, according to Lipper.

The European funds industry suffered total redemptions of €3.6bn during the month, reducing the total for year-to-date net sales to €108.8bn. Excluding money market vehicles (which posted inflows of €8.2bn), the picture looked even grimmer with total outflows of €11.8bn.

“Stock market fears, and the resulting impact on equity fund sales, were sufficient to decimate activity in the previously buoyant UK and cross-border markets, suffering outflows of €1.6bn and €1.7bn respectively (excluding money market funds),” said Ed Moisson, Lipper’s head of UK and cross-border research.

“Having said this, the Italian (-€2.4bn) and French (-€1.7bn) fund markets endured further severe withdrawals.”

While investors have been heading for the shelter of cash and bonds, they seem less sure of the defensive qualities of absolute return funds. The sector fell to its lowest monthly total of 2012 at €350m, bringing its year-to-date total to net sales of €5.6bn.

The three best-selling mutual funds in May were Pimco GIS Global Investment Grade Credit (€830m), Alliance Bernstein American Income Portfolio (€750m), and Allianz US High Yield (€740m).

“Besides ETFs, several groups managed to attract healthy inflows to their equity funds this month,” added Moisson.

“The three at the top of the tree reveal different underlying stories. Saudi Arabian-based Sedco has just launched three Shariah-compliant funds (€480m), Morgan Stanley’s sales (of €390m) have been led by two well-established actively managed funds (Global and US equities), while Vanguard’s inflows spread across a variety of index tracking products (totalling €200m for equity funds).”

Add to My News Comments (0)

Add to My News Print

Add to My News

add to twitter

add to linkedin



TAGS: funds

COMMENTS


Have your say

(Be the first to) Have your say!

Please sign in or register here to leave a comment. Registration is free and only takes a few moments.






Share us on Twitter

SHARE US ON TWITTER
Join the community

Join us on Linked In

SHARE ON LINKED IN
Inform your colleagues

Switch to our mobile site

SWITCH TO MOBILE SITE
News on the go

Back tot he top of the page

BACK TO TOP OF PAGE
Just click here...