European bond funds saw net outflow in November

The net redemptions were the first for the fixed interest sector in 21 months. Net sales for European funds reached €12.5bn in November, down from €20.3bn in October. "The result of these diverging attitudes to equities and bonds was to bring Europe-wide long-term fund sales back down to earth," says the report. "The dramatic shift away from fixed income resulted in most of the major European fund markets dropping into the red in November, most notably Spain." The group adds net sales for the calendar year are on course to finish at a five-year high. Year-to-date net sales st...