During February long-term funds in local Europe and the cross-border space gained €66.2 billion in net flows. Bond products were the top selling asset class for the second consecutive month, collecting €25 billion in February. Mixed and equity funds followed with €17.9 billion and €13.4 billion of net subscriptions, respectively. 'Other' funds (including real estate) collectively gained €10.7 billion, while guaranteed funds suffered €1.1 billion in net redemptions.
At the category level, Bond Global led with €8.7 billion in net new flows, Equity Global was next with €7.6 billion, followed by Mixed Balanced with €7.4 billion in net new cash. On the other end, Guaranteed, Equity North America, and Bond Asia Pacific conceded €1.2 billion collectively.
Pictet TURICUM aktien und Immobilien Wertschriften, a Switzerland-domiciled Mixed Balanced fund, was the best-selling product this month gathering nearly €3 billion in net subscriptions. The next best selling product was the Ireland-domiciled Bond Flexible Multisector fund, PIMCO GIS Income, gaining €2.6 billion in February.