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Data reveals top fund manager in Europe for flows

Pimco attracted the most assets among fund houses operating in Europe last month with inflows of 4.5bn (£4.2bn), data from Morningstar Direct shows.

The Pimco GIS Income fund was the key attraction, with 3.6bn of inflows.

BlackRock’s main draw was its institutional open-ended index funds with the new BlackRock ACS 30:70 Global Equity tracker bringing in 1.9bn. However, the actively managed BGF Global Multi-Asset Income and BGF European funds also saw net inflows of 580m and 510m respectively.

Aberdeen Standard Investments’ was among the biggest losers with 459m in outflows as its Global Absolute Return Strategies fund continued to hemorrhage assets, behind Aletti Gestielle, a subsidiary of the Italian Banco BPM.

Overall, long-term funds in Europe saw net inflows of 56.5bn in July, down on June’s figure but still the third-highest level seen in a single month since February 2015. Bond funds were the most popular with inflows of 24.3bn while equity funds attracted 17bn.

Morningstar EMEA editorial director Ali Masarwah says: “Net sales of long-term funds in Europe were strong in July. As the year is progressing, inflows are gathering pace.

“While bond funds again saw the highest demand, equity fund sales have seen surprisingly high levels in the past few months. The risk appetite of European investors is surprising considering the tepid demand for equity funds in the past years in spite of continuously rising markets. Demand for allocation and alternative funds was steady last month, though unspectacular when compared with the inflows to equity and bond funds.”

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