Net sales of regulated open-ended funds reached €166bn in Europe, slightly less than the €167bn registered in the US. Japan registered net sales of €43bn, while €40bn were reported in Canada.
Emerging markets experienced a rebound, with net sales rising from €19bn in 3Q15 to €162bn in 4Q15. This can largely be attributed to net flows into Chinese balanced/mixed funds after very large net outflows of €98bn from these funds in 3Q15.
In Europe, long-term Ucits attracted net inflows of €131bn, up from €61bn in the third quarter. Equity funds registered net inflows of €58bn, having experienced net outflows of €16bn in the previous quarter. Outflows from bond funds slowed from €22bn in 3Q15, to €4bn in 4Q15.
In the US market, long-term open-ended funds increased from €0.5bn in 3Q15 to €89bn in 4Q15. US equity fund net sales rose from €11bn to €64bn over the same period. Bond funds saw a reversal in flows, increasing from net outflows of €8bn in 3Q15 to net inflows of €11bn in 4Q15.
