Multi-asset funds saw €8.5bn of net inflows, while equity products enjoyed net inflows of €3.6bn. The figures were slightly distorted because of the sale of the Scottish Widows Investment Partnership Gilt Fund to Lloyds, which was part of a takeover of the company by Aberdeen Investment Management.
Contrast with fund selector sentiment
But nevertheless the trend is remarkable, as fund selector sentiment towards developed government and corporate bonds is absolutely negative at the moment, and return prospects for most bond categories are subdued. Lipper did not say which bond categories are particularly in fashion.
Inflows into equities dropped sharply, from close to €14bn in February. According to Lipper, Euroland equity funds and emerging market equity funds enjoyed the largest net outflows. Preliminary figures for April see bonds still as the top-selling category, albeit at a lower level. Equity fund sales would rise again to €8.4bn.
