€13.8 into funds - Europe FlowWatch October 2016 Results

During October investors deposited a net €13.8 billion into long-term funds in local Europe and the cross-border space. Mixed products garnered the most new money at €7.1 billion, closely followed by Bond funds at €6.1 billion. Meanwhile, equity vehicles experienced continuous net redemptions that amounted to €3.9 billion for the month, bringing year to date aggregate net withdrawals to €63.5 billion for the asset class.

At the category level, Bond Emerging Markets led with nearly €4 billion, while Bond Global also collected €3.3 billion in net new cash. By comparison, Equity Europe and Bond Europe suffered €5 billion and €1.9 billion in net outflows, respectively, during October.

Banco Popolare's Gestielle Cedola Multi Target III, a cross-border Mixed Conservative product domiciled in Italy, was the bestselling fund this month attracting €1.1 billion in assets since inception.