All major asset classes had net outflows in July but equities and commodities hardest hit: Morningstar’s latest EU asset flows data

by | Aug 23, 2022

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Housing market crash

Today, Morningstar published its European Asset Flows data and commentary for July 2022.    

Key takeaways include: 

  • Long-term Europe-domiciled funds shed EUR 25.1 billion in July. Money market funds gained EUR 5.9 billion.
  • All major asset classes—excluding money markets—experienced net outflows, though passive fixed-income funds registered modest inflows of EUR 5.4 billion.
  • Equity funds were hardest hit, with EUR 11.6 billion of net outflows.
  • Fixed-income strategies experienced EUR 2.3 billion in redemptions, which was attributable to withdrawals from active strategies.
  • Commodities funds had the most significant outflows as percentage (4.70%) of assets under management.
  • Investors continued to pour money into “dark green” funds (EUR 6.3 billion). These are funds that fall within the scope of Article 9 of the SFDR. On the other hand, funds considered to be Article 8 (“light green” funds) shed EUR 3.3 billion in July.
  • In the fixed-income category group, European corporate and government bonds saw the highest net inflows at the Morningstar Category level, both gaining roughly EUR 3.3 billion in July.
  • Eurizon and BNP Paribas led the way in inflows among fund groups. Amundi suffered the biggest redemptions.
  • Xtrackers ESG MSCI USA UCITS ETF was the top seller of the month (excluding money market funds); iShares Physical Gold ETC experienced the largest net outflows.
  • Assets in long-term funds domiciled in Europe increased to EUR 11.303 trillion at the end of July 2022, up from EUR 10.661 trillion as of 30 June.

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