Investors poured a record €566bn (£504bn) into active funds sold across Europe in 2017, despite mounting pressures from lower cost passive funds, new figures show.
Data provider Broadridge says the stimulative bond buying program from the European Central Bank and strong growth in corporate sales helped fund sales increase 80 per cent compared to the previous record figures in 2014.
Overall, a record of total €729bn was ploughed into European funds.
Fund giant BlackRock was the best selling company for a fifth consecutive year with €88.8bn inflows for 2017. Pimco and Amundi were the second and third best selling managers, with €42.9bn and €26.4bn inflows respectively.
Sales of passive funds in Europe reached €163bn, more than double 2016’s figures.