Inflows to European-registered funds reached €18.3 billion (around $24.6 billion) in December - excluding money market funds - although cyclical French withdrawals mean that if money market activity is included this total drops into the red, with an outflow of €4.1 billion, Lipper FMI reported.  

For 2010 as a whole, net sales finished at €283.6 billion (ex-money market), the highest level since 2005, when the figure was €371.0 billion, the research firm said in a monthly snapshot of industry trends.

In an example of how the market has become less nationally constrained, cross-border groups accounted for 79 per cent of net sales (€222.7 billion). For the purpose of definition, “cross-border” groups derive at least 20 per cent of their business from a second market.

Franklin Templeton was the most successful group in terms of net sales for the year, achieving inflows of €31.4 billion, ahead of Allianz/Pimco (€20.5 billion) and Carmignac (€16.9 billion).  Franklin Templeton was also the top-selling bond fund group in terms of annual net sales.

Deutsche Bank generated the greatest equity net sales in 2010 (€8.3 billion), although this was primarily due to its db x-trackers ETF range. Among active fund managers, Aberdeen led the way with equity fund sales of €7.1 billion, thanks to the success of its emerging market, Asian and global products.