Data provider Refinitiv has released its European Fund Flows Report for March 2019, revealing that it was the eleventh consecutive month with net outflows from long-term mutual funds, following on from 16 previous months with net inflows.

The study, conducted by the Lipper Research team, showed that total fund flows for mutual funds in Europe resulted in net outflows of €22.0 billion last month, while bond funds were the most popular individual asset type overall for March, gaining €16.4 billion in the same period.

The ten best-selling long-term funds at the share-class level totalled net inflows of a formidable €8.4 billion for March, with CSIF (CH) III Equity World ex CH Blue PF Plus ZB being the most popular individual long-term fund for March.

It also showed that investment management giant BlackRock was the best-selling fund promoter for March overall. This appears to have been motivated by money market products, with net sales of €6.3 billion placing the company ahead of rivals ahead of PIMCO, which made €3.7 billion and Robeco which totalled €2.9 bn.

Within the bond sector, funds domiciled in Luxembourg led the table in Europe, followed by Ireland, Norway, Denmark and Sweden. Meanwhile, bond funds domiciled in Spain, France and Italy were dwelling at the bottom end of the table. France also had the second highest net outflow from equity funds, only being surpassed by Luxembourg.

Ireland enjoyed the effects of being driven by money market products and was the fund domicile with the highest net inflows, beating both Denmark and the Czech Republic.