Investors returned to mutual funds in July
Long-term mutual funds posted net inflows for the fifth consecutive month in July, with overall fund flows for mutual funds in Europe amounting to EUR81.5 billion, according to the lates Lipper European Fund Flows Report from Refinitiv.
Money Market funds (+EUR38.3 billion) were the best-selling individual asset type overall for July. Equity Global (+EUR14.5 billion) was the best-selling sector among long-term funds for July.
Ireland (+EUR43.3 billion) was the fund domicile with the highest net inflows, followed by France (+EUR19.2 billion), which was driven by flows into money market products (+EUR20.6 billion), Luxembourg (+EUR13.3 billion), Switzerland (+EUR3.1 billion), and the U.K. (+EUR1.1 billion).
BlackRock was the best-selling fund promoter for July overall, with net sales of EUR20.1 billion, ahead of Amundi (+EUR11.5 billion) and JP Morgan (+EUR7.1 billion).
The ten best-selling long-term funds gathered at the share-class level amounted to net inflows of EUR17.0 billion for July.
Amundi CA 13/08/2019 C (+EUR5.0 billion) was the best-selling individual long-term fund for July.