Equity fund sales also fell, but at €10.4bn remained healthy in comparison the 18-month slump seen before December 2012.
Mixed asset funds continued their strong start to the year attracting sales worth €7.9bn. Balanced and conservative products contributed a significant €2.2bn and €960m respectively to this total.
Cross-border fund sales in total remained above the 2012 monthly average, but fell by almost 50% from January’s total to €22.2bn.
Asset allocation fund sales remained strong, at €4.8bn, while emerging market and global funds attracted strong sales in both equities and bonds. European and US equities enjoyed strong sales of €1.4bn and €1.1bn respectively, while high yield bond funds reached a nine-month low at €1bn.
There were withdrawals from both UK equity funds, -€1bn, and corporate bond funds -€700m. German and Spanish fund sales, on the other hand, increased again during the course of the month.
Comparisons can be made with last month’s figures here.