growth for asset management industry in Spain
Net inflows into mutual funds by Spanish and Italian investors spiked in the first eight months of 2014
Net inflows into mutual funds by Spanish and Italian investors spiked in the first eight months of 2014
European equity mutual funds registered unprecedented outflows last week. According to Bank of America Merrill Lynch, funds invested in European stocks shed $5.7bn.
Net outflows from European equity funds accelerated in August, while developed bonds are showing an upsurge.
Mutual funds which invest in European equities suffered net outflows in July for the first time since March 2013.
European investors pulled out a net 5bn from USD corporate high yield funds alone in July.
European-listed ETFs and ETP assets reached a record high at the end of August of $477.4bn, according to ETFGI.
European investors have suddenly started to pour in money into corporate bonds in June, while net inflows into high yield bond funds collapsed.
A significant recovery in sentiment and valuations of emerging markets assets has been under way over recent months but
European fund buyers are increasingly looking for refuge as both bond and equity prices have started to look suspiciously high.
Flows into absolute return funds have reached a new high in the first five months of this year.
Money flows to developed equity funds are now at the lowest level since June 2013, according to the latest EIE fund flows data.
Flows into European equity funds are the lowest they have been for almost a year.