According to its August report, €49bn worth of sales were made during the month, meaning its year-to-date figures stand at €199bn.
However, the main driver of this growth was in money market funds which took more than €22bn, while liquidity products contributed a further €26.1bn.
Conversely the investment in non-money-market funds was fairly high too with sales reaching €16.2bn over the month. Equity investments have also been resilient although it is telling that 90% of the €2.6bn invested has been through Exchange Trade Funds not unit trusts.
The high investment in ETFs suggests this month’s investment flows have been heavily influenced by institutional investors.
