Flows into Europe-domiciled funds reach fresh high this year

€63bn in October

Funds in Europe attracted €63bn in October, marking their best month for flows this year, despite international markets suffering from pre-US election jitters.

Assets in long-term funds domiciled in Europe increased to €12.3trn by month's end from €12trn at the end of September, according to Morningstar Direct. "Despite the setback in international markets – global equities fell by 2.2% in October while global government bond returns declined by 1.2% – investors continued to show positive sentiment, arguably driven by the decisions of the US Federal Reserve and the European Central Bank to cut interest rates," Morningstar's senior international editor Valerio Baselli said. Bond funds attracted the highest level of monthly flows since July 20...