Detlef again!
'He's spoiling us, boss!'
Well, yeah ... that's one way of looking at it.
'He could be stalking us! / Every breath you take, every move ...'
Ha!
Anyway ...
The assets under management within the European fund industry increased from €13,313.1 bn as of December 31, 2022, to €13,809.3 bn at the end of March 2023.
Bond funds (+€49.9 bn) were the best-selling asset type overall for the month.
Long-term mutual funds (+€38.4 bn) posted estimated net inflows for Q1 2023.
The overall fund flows into mutual funds and ETFs in Europe for Q1 2023 amounted to estimated net inflows of €37.1 bn.
Equity Global (+€18.2 bn) was the best-selling sector among long-term funds.
Switzerland (+€19.3 bn) was the fund domicile with the highest net inflows, followed by Luxembourg (+€15.7 bn), and Spain (+€9.4 bn).
BlackRock (+€21.3 bn) is the best-selling fund promoter in Europe over the course of the first quarter of 2023, ahead of JPMorgan (+€17.6 bn) and BNP Paribas (+€10.4 bn).
Oh.
'Correct me if I'm wrong, boss, but this means that it was a positive period for the European fund industry.'
Er ... let Detlef be the judge of that.
Detlef Glow, Head of EMEA Research at Refinitiv Lipper, comments: "It was not surprising that Q1 2023 was in general a positive period for the European fund industry given the rather positive revisions of the economic outlooks for the major economies globally and a possible end of the interest hiking cycle of central banks in the near future. Nevertheless, mutual funds (-€2.5 bn) faced estimated net outflows, while ETFs enjoyed inflows of €39.6 bn over the course of the first quarter of 2023. The inflows into ETFs within the positive but still somewhat uncertain market environment repeat a trend we witnessed over other rough market periods such as the financial crisis or the euro crisis, where ETFs enjoyed inflows while mutual funds faced massive outflows."
You were right, Voice.
'Ha! I'm a genius!'
Whatever.
Thanks, Detlef!
ENDS
...
Anything else? Moods?
Man, is there any cure for moods?
'Become a robot!'
Yeah, I wish I could.
'You don't mean that.'
Don't I?
I tell you, kooks ... those artificial intelligence goons may not be able to write songs to save their pathetic little microchips, BUT(!) ...
I bet they have nice calm moods, you dig?
'Great! Who wants to live like that?'
I don't know.
I just don't know.
I need immersion in music, man. Total immersion! But I can't get it with my life.
Shitshow.
Uh ...
Laters.
'Bye!'
