The European mutual fund industry attracted EUR212.2 billion in 2012, compared to EUR175.1 billion of inflows into US mutual funds despite the relatively smaller size of the two markets, according to data provided by Lipper.
The figures exclude money market funds, but even when included, total mutual fund sales in the US were just EUR14 billion higher than in Europe, at EUR182.5 billion compared to EUR168.8 billion.
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Bond fund sales were roughly the same, totalling EUR217 billion in Europe and EUR228.5 billion in the US.
The US is estimated to manage around half of global funds under management, while the European industry accounts for about one-third.
Outflows from US equities totalled EUR82.2 billion in the US, compared to a more modest EUR16.9 billion in Europe.
Among the largest cross border groups, 26% of assets are sourced from investors based in countries outside of Europe. Cross-border funds now account for 42% of European industry assets, double the proportion in 2001 (21%).
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By GlobalDataCross border funds also attracted the second largest amount on record in 2012, EUR220.7 billion.
PIMCO tops the list In terms of average annual sales over the past decade, with an average EUR8.66 million per year.
There were three PIMCO funds in the top five best-selling bond funds of 2012, the Total Return Bond Fund, the Global Investment Grade Credit Fund and the Diversified Income Fund.
Franklin Templeton and BlackRock take the second and third position over the ten-year period, each with average sales of EUR7.82 billion and EUR7.79 billion respectively.
BlackRock’s IS Emerging Markets Index Fund was the third most popular equity fund in 2012, attracting inflows of EUR2.4 billion.
