The monthly "Fund Flash" snapshot of European trends showed outflows of €1.2bn from bond funds, down from €17.2bn in September.
Meanwhile, equity funds saw outflows of €10.6bn in October, compared to the €20.1bn of redemptions seen in the previous month.
The Lipper report said: "It is a sign of the times that outflows from the European funds industry of €19.7bn might be seen as easing the pressure on fund managers.
"But despite the apparent chaos and disorder of the political news in Europe, stock and bond indices improved markedly in October so that the industry’s assets actually rose by 2.3% to top €5.2trn – albeit still adrift of the total at the end of 2010 (€5.5trn)."
Following redemptions of €18.5bn over the past four months, high yield funds bounced back into favour, with inflows of €3bn in October.
Absolute return funds did not fare so well and saw redemptions of €700m in October, with net sales for the year now standing at €4bn.
In terms of providers, Allianz/Pimco topped the group sales chart, with net sales of €1bn ahead of the €680m in net sales from Muzinich and €550m from Prudential/M&G.
