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European fund flows hit EUR37.1bn in March

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Flows into the European funds industry hit EUR37.1bn in March, bringing the first quarter total to EUR87.4bn – the best opening quarter since 2007 (EUR133.4bn), according to Lipper’s latest Fund Flash.

 Net sales of long-term funds (excluding money market funds) reached EUR77.1bn for the quarter, an impressive total, albeit lower than in 2010 (EUR104.7bn).
 
At group level, Allianz/PIMCO (EUR7.3bn), AXA/AllianceBernstein (EUR5.7bn) and M&G/Prudential (EUR4.3bn) generated the greatest net sales over the first quarter.
 
Seven funds attracted inflows of more than EUR1bn this quarter, headed by AllianceBernstein’s American Income Portfolio (EUR2.0bn), PIMCO Global Investment Grade Credit (EUR1.8bn) and M&G Optimal Income (EUR1.6bn).
 
ETFs have accounted for just 5% of European fund industry sales so far this year (EUR4.4bn), although they have gathered 25% of inflows to equity funds over this period (EUR3.1bn of the wider industry total of EUR12.2bn). 
 

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