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Bond inflows triple over first half of 2012, Lipper says

Bond funds dominated the European funds industry’s sales over the first half of the year, figures from Lipper show.

The fund analyst’s latest monthly snapshot of European fund flow trends says bond portfolios benefitted from inflows of €14.2bn during June, taking their total sales over the opening six months of 2012 to €88.4bn.

This is almost three times the €31.2bn of inflows that bond funds received during the same period of 2011.

Lipper’s report adds: “It is the interest in bonds that accounts for much of the success of the groups enjoying the greatest inflows so far in 2012: Pimco heads the list (€12.8bn), followed by Axa (€8.9bn) and M&G (€6.6bn).”

Bond fund sales are in contrast to trends being seen in equity portfolios. Over the first half of the year, equity funds have suffered net outflows of €15bn.

Lipper says equity fund outflows are one of the main causes of continued weakness in European sales.

Long-term funds, excluding money market products, attracted just €73.4bn over the six months, compared with the €96.5bn seen this time last year.

“Other than the second half of 2011, one has to go back to the first half of 2009 to find a six-month period with lower inflows for long-term funds in Europe,” the analyst says.

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