Net sales of European funds hit 3 billion (2.6 billion) in April, up from 75m in March, according to Lipper FMI’s Fund Flash Report. However, the inflow is a fraction of the 16 billion of inflows in the same month last year.
The figure was boosted by a net inflow of 3.6 billion into bond funds, which Lipper says was the best amount in the asset class since January 2006. Investment grade and high yield options were the dominant theme among Continental investors, says Lipper.
Equity funds meanwhile saw a net inflow of 4.4 billion, while convertible bond and options funds attracted 1.6 billion of new money.