During January, long-term funds in local Europe and the cross-border space gained €50.9 billion in net flows. Bond products were the top selling asset class for the month, collecting €23 billion. Mixed and equity funds followed with €11.2 billion and €7.9 billion of net gains, respectively, while "other" funds (including real estate) collectively gained €8.9 billion during the month. Guaranteed funds suffered €78 million in net redemptions.
Bond Global represented the best-selling category with €8.1 billion followed by Bond High Yield with €5 billion in net new cash. By comparison, Equity Emerging Markets and Equity Asia Pacific experienced €800 million and €426 million in net outflows, respectively during January.
PIMCO GIS Income, an Ireland -domiciled Bond Flexible Multisector product, was the bestselling fund this month gathering over €1.5 billion in net subscriptions while UBS and Credit Suisse launched 2 new successful funds which gathered over €1 billion each since inception.