BofA: European asset managers attract $54bn inflows so far in 2023

Reversal from 2022 outflows

European asset managers have garnered inflows of $54bn so far in 2023, marking a reversal from 2022, which saw the worst year for outflows since the Global Financial Crisis.

According to a report by the Bank of America Global Research, risk appetite has risen as markets rally on the back of more robust economic growth, lower inflation figures and slower rate rises.  However, weekly flow momentum has faded as equities reach year-to-date highs, the report found. BofA's European equity strategists saw downside risks and forecasted that the economy is about to experience a meaningful headwind from monetary tightening. Coinciding with a slowdown in rate hikes by the central banks, fixed income has seen the largest inflows this year at $32bn. All bond categorie...