Net new flows of European fund of funds increased by 40 percent in December, according to a new report.
Cerulli Associates published this finding in the February 2013 issue of the “Cerulli Edge: European Monthly Product Trends Edition.” The report covers local and cross-border mutual funds and ETFs across the major European asset management markets. Also surveyed are assets under management and flows across asset classes, sectors and markets.
The Cerulli report shows that net new flows of of European fund of funds in December reached €700 million ($919.1 million), up from €500 million ($656.5 million) in November. The gain, however, remains below the fourth quarter peak of €2 billion ($2.6 billion) attained in October of 2012.
Measured in terms of assets under management, European fund of funds totaled €478.2 million ($627.9 million) in December, the report shows. This exceeds the $474.9 million ($623.5 million) recorded in November and the €471.5 million ($619.1 million) posted in October.