The Refinitiv Lipper team has released the February European flow industry report, showing that long-term mutual funds posted strong net inflows for February 2021.
The overall fund flows for mutual funds and ETFs in Europe in February amounted to estimated net inflows of EUR29.3 billion.
Equity funds (+EUR50.0 billion) were the best-selling individual asset type overall for February, and Equity Global (+EUR17.2 billion) was once again the best-selling sector among long-term funds for February.
Luxembourg (+EUR21.9 billion) was the fund domicile with the highest net inflows, followed by Ireland (+EUR11.2 billion) and Switzerland (+EUR2.9 billion).
State Street (+EUR7.0 billlion) was the best-selling fund promoter in Europe for February, ahead of BlackRock (+EUR6.0 billion) and Credit Suisse Group (+EUR3.0 billion).
Detlef Glow, Head of EMEA Research at Refinitiv Lipper, comments: “Despite the deteriorating situation with regard to the Covid-19 pandemic in some parts of Europe, February 2021 was another positive month for the European fund industry since the promoters of mutual funds (+EUR11.8 billion) and ETFs (+EUR17.5 billion) enjoyed inflows.
“The level of the overall flows was skewed by outflows from money market funds as investors in Europe returned to risk-on mode in February. At a closer look, investors bought into risky assets as long-term funds enjoyed estimated net inflows of EUR88.1 billion, while money market products faced estimated outflows of EUR58.8 billion.”
