European-domiciled long-term funds saw net outflows of €130bn in 2022, their worst year since 2008.
Morningstar's European Asset Flows report for December 2022 revealed that recovery was beginning to set in at the end of the year. The final month was the second consecutive month of net positive flows for long-term funds, totalling €27bn. While 2022 was a tough year for equities on the continent, seeing their worst flows since 2011 at €27.7bn in outflows, the fourth quarter saw a reversal, as the sector gained €9.1bn in inflows. Indeed, global large-cap blend equity funds were the most popular product for the second month running, taking in €11.5bn in December. Top performing...
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