The negative trend with regard to fund flows in Europe continued in March even as the securities markets rebounded. As a consequence, March was the eleventh month in a row long-term mutual funds posted net outflows after 16 consecutive months of net inflows. Given the current interest rate environment, it was surprising that bond funds (+€16.4 bn) were once again the best-selling asset type in the segment of long-term mutual funds, followed by real estate funds (+€0.1 bn). All other asset types faced outflows: equity funds (-€20.9 bn), alternative UCITS funds (-€7.9 bn), mixed-asset funds (-€5.5 bn), “other” funds (-€0.5

The negative trend with regard to fund flows in Europe continued in January, even as the securities markets showed a rebound. As a consequence, January was the ninth month in a row long-term mutual funds posted net outflows after 16 consecutive months of net inflows. It was surprising that bond funds (+€12.7 bn) were the best-selling asset type in the segment of long-term mutual funds, followed by real estate funds (+€1.0 bn). All other asset types faced outflows: alternative UCITS funds (-€7.7 bn), equity funds (-€7.4 bn), mixed-asset funds (-€3.5 bn), commodity funds (-€1.1 bn), and “other” funds (-€1.0 bn).