Lux and Dublin cross-border funds had highest sales, according to FERI

Fund groups that sell cross-border from Luxembourg and Dublin achieved the highest sales in September, according to data by FERI-FMI. However, European domestic players had the greatest outflow totalling funds of E3.2bn. The groups in Luxembourg and Dublin achieved net inflows of E4.6bn following high sales in equity funds. These groups have a strong equity bias in many of the current growth sectors. Their reliance on third party distributors means that their natural target buyers are private banks and portfolio managers servicing high net worth individuals (HNWI). Axa had the highest...