European fund industry sees estimated net inflows of EUR197.1bn YTD

Overall fund flows for European mutual funds and ETFs amounted to estimated net inflows of EUR297.1 billion for the first nine months of 2020, according to data release by Refinitiv.

Money market funds (EUR211.3 bn) were the best-selling individual asset type overall for 2020 year to date.

Equity Global (+EUR62.8 billion) meanwhile, was the best-selling sector among long-term funds for the first nine months of 2020.

BlackRock, with net sales of EUR68.3 billion, was the best-selling fund promoter overall for the first nine month of 2020, ahead of JPMorgan (+EUR56.9 billion) and Goldman Sachs (+EUR23.3 billion).

The European fund market increased by 3 funds over the course of the first nine month of 2020.
Detlef Glow, Lipper Head of EMEA Research at Refinitiv, says: “The coronavirus pandemic hit the European fund industry with declining markets and estimated net outflows of EUR125.9 billion in the first quarter of 2020. This trend reversed over the course of the second quarter as central banks and governments around the globe started quantitative easing programs and economic relief packages to cushion the economic drawdowns caused by the spread of the coronavirus and the lockdowns of economies around the globe.
“The measures taken led to a rebound of the equity markets accompanied by falling interest rates. The return to somewhat normal market circumstances led investors to buy back into mutual funds and ETFs. As a result, the European fund industry enjoyed inflows over the course of the second and third quarters, with overall flows adding up to EUR297.1 billion for 2020 so far. Taking all of this into account, 2020 was—despite the inflows—a tough period for the European fund industry.”