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Net sales of bond funds at record level in October, says Lipper

Net sales of bond funds in Europe hit EUR30bn in October, their highest one month total on record since Lipper’s regular monitoring of fund flows began in 2002, according to Ed Moisson, head of UK and cross-border research at Lipper.

Ten separate bond sectors each saw inflows of over EUR1bn this month.
Long-term fund sales (excluding money market funds) hit a 24-month high at EUR31.6bn, bringing the year-to-date total to EUR168bn, and making EUR200bn a realistic goal by the year-end.
Activity was even more encouraging for the European industry with money market funds included, so that overall net sales reached EUR38.3bn for the month and a year-to-date total of EUR161.1bn.
Bond fund assets now stand at EUR1.7trn, making up 28.5 per cent of the European industry. Five years ago this proportion was 20.2 per cent (October 2007). For equity funds, the proportion has shrunk from 41.1 per cent to 34.0 per cent over the same period, with assets now at EUR2.0trn.
Four groups attracted net sales of more than EUR1bn this month. Pimco led the way with EUR4.2bn, ahead of BlackRock (EUR3.3bn; EUR2.2bn of which relates to ETFs), AXA (EUR2.9bn) and JPMorgan (EUR1.3bn).

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