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European fixed income fund inflows top £30bn in Q1

Fixed income funds saw more than £30bn in new investor assets during the first quarter of the year, according to Morningstar’s European asset flow data.

According to Morningstar, equity funds saw net redemptions during March “and only slightly positive inflows for the quarter”.

More than £40bn poured into long-term funds during the first quarter in total, with BNP Paribas absorbing £6.2bn.

Asset managers BlackRock and Pimco saw inflows of £2.5bn and £4.5bn, respectively.

Conversely, equity-focused fund groups Fidelity and DWS saw outflows during the first quarter.

During March, long-term funds saw inflows of £13.1bn, with fixed income funds accounting for £11.4bn, as equity funds saw net redemptions of £1.1bn. Money market funds reported inflows of £8.2bn.

Amundi attracted the largest share of investor assets, with £4.3bn.

Morningstar European research team member Dan Lefkovitz says: “A global bond boom is on. But recent European flows to bond funds should not be interpreted as a vote of confidence in the eurozone.

“Investors are clearly differentiating between troubled governments and profitable corporations, and between the indebted West and cash-flush emerging markets.”

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