Fund Buyer Index

– This heatmap shows all the countries and all the mainstream equity classes. The more green, the more positive, the more red, the more negative.

– This clearly shows that almost everyone is positive towards Europe and negative towards the US.

– We’ve also listed them in order of overall positivity to equities. Italy, Spain and Portugal are the most bullish on equities; while The Netherlands, Norway and Sweden are the most negative.

– In 2016, for all European-domiciled funds, €80bn net flew into all actives and €48bn went into passives. For active funds, fixed-income, alternatives and multi-asset (allocation) products were the big winners while equity and convertibles lost out. For passive funds, fixed-income, equity and commodities products drew in the crowds.

– In the second chart we have zoomed into equities to have a more granular picture.

In 2016, all active developed equities sectors lost money with Europe taking a particular hit totalling €46bn. In sharp contrast, all passive US equity funds attracted a net inflow of €10bn. The other two remarkable asset classes are emerging equities and global equity funds with plenty of net inflows into both active and passive funds.