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European fund sales back in black in April

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 European fund sales came swiftly back into the black in April at EUR24.8bn (excluding money market funds), a six-month high, according to Lipper FMI’s latest fund flows monthly snapshot.

With money market activity included, total industry sales reached EUR28.6bn, with French and International funds together enjoying net sales of EUR6.4bn.
 
Bond fund sales improved for the fourth month in a row to reach EUR7bn, but it was the rapid turnaround in fortunes for equity funds that really caught the eye, with last month’s net redemptions of EUR8.5bn transformed into inflows of EUR12.9bn.
 
Franklin Templeton maintained its position at the top of the leader board in terms of group sales (EUR3.3bn), ahead of Allianz/Pimco (EUR2bn) and GAM Holding (EUR1.3bn), with each company giving a strong showing on the fixed income side.
 
Commodities and Raw Materials equity funds both posted impressive sales figures in April (EUR960m and EUR860m), taking their respective year-to-date totals to EUR3.7bn and EUR4.4bn.

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