In July, Europe-domiciled long-term funds experienced robust net inflows of EUR 44 billion, contributing to a total of EUR 186 billion in the first seven months of 2024 reports Morningstar.
Equity funds were a major driver, attracting EUR 15.6 billion, with passive equity strategies leading the way with EUR 15.7 billion in inflows. In contrast, active equity strategies saw a slight outflow of EUR 30 million, reflecting a continued preference for lower-cost, index-based investments.
Fixed-income strategies also performed well, marking their ninth consecutive month of net inflows, bringing in EUR 32.3 billion. However, allocation funds continued to struggle, losing EUR 2.8 billion, extending their losing streak to 14 months. In the ESG space, Article 8 funds had their best month since January 2023, gathering EUR 14.5 billion, while Article 9 funds saw their tenth straight month of outflows, shedding EUR 1.8 billion.
Among asset managers, iShares and Nordea were the top asset gatherers, while Eurizon and Aviva faced significant outflows. Notably, Pimco GIS Income saw inflows of EUR 1.3 billion, whereas Vanguard Global Bond Index had the largest outflow at EUR 1.3 billion.
Overall, assets in long-term funds domiciled in Europe increased from EUR 11.9 trillion at the end of June to EUR 12.2 trillion by the end of July, reflecting strong investor confidence and a growing market.
The full report can be found here.
