The negative fund flows trend in Europe continued in April as the securities markets showed a volatile, but positive, trend. As a consequence, April was the twelfth month in a row long-term mutual funds posted net outflows after 16 consecutive months of net inflows. Taking the current interest rate environment into account, it was surprising that bond funds (+€7.6 bn) were once again the best-selling asset type in the segment of long-term mutual funds, followed by real estate funds (+€0.2 bn) and commodity funds (+€0.1 bn). All other asset types faced outflows: equity funds (-€21.0 bn), alternative UCITS funds (-€8.7

European investors pulled back from long-term mutual funds as the market environment and the general sentiment turned negative. As a consequence, May was the first month posting net outflows from long-term mutual funds after 16 consecutive months showing net inflows. That said, European fund promoters still enjoyed net inflows into mixed-asset funds (+€2.5 bn), followed by commodity funds (+€1.4 bn) and alternative UCITS funds (+€1.4 bn) as well as real estate funds (+€0.4 bn), while net flows to “other” funds (-€0.8 bn), equity funds (-€7.4 bn) and bond funds (-€15.9 bn) were negative. These fund flows added up to overall

European Fund-Flow Trends, November 2017 November was the eleventh consecutive month showing a positive picture for long-term mutual funds. European fund promoters enjoyed net inflows into bond funds (+€18.0 bn), followed by equity funds (+€7.1 bn), alternative UCITS funds (+€2.4 bn), mixed-asset funds (+€1.7 bn), and real estate funds (+€0.7 bn) as well as commodity funds (+€0.6 bn). Meanwhile “other” funds (-€0.4 bn) faced net outflows. These fund flows added up to overall net inflows of €30.1 bn into long-term investment funds for November. ETFs contributed €6.6 bn to these inflows. Money Market Products Money market products (-€1.3 bn) were