According to Detlef Glow, Head of EMEA research review at Thomson Reuters Lipper, and considering the rough market conditions during the first half 2016 and the concerns about a possible “Brexit” vote in the United Kingdom, it was not surprising that the assets under management in the European mutual fund industry decreased from the record level of €8.88tr (December 31, 2015) to €8.76tr at the end of June 2016.
This decrease of €126.7bn was mainly driven by the performance of the underlying markets (-€156.2bn), while net sales contributed net inflows of €29.5bn to the overall change in assets under management in the European fund industry.
Other findings include:
- Bond funds enjoyed the highest net inflows (+€38.8 bn) during first half 2016.
- Bond Global (+€7.1 bn) was the best selling long-term mutual fund category over the first half 2016.
- BlackRock (€593.8 bn) at the end of June accounted for more assets under management than the following two fund promoters together.
- BlackRock led the sales table for first half 2016 with net sales of €18.1 bn.
The full report is available here.