This accompanied another bumper month for bond funds, with €19.5bn in total sales and €6.5bn in high yield bond funds alone – beating January’s all-time high.
According to Lipper’s latst ‘Fund Flash’, net sales for long-term funds, which exclude money market funds, were the best in 16 months in February, reaching €28.7bn.
Meanwhile, significant redemptions from money market funds meant the funds industry as a whole saw inflows of €16.3bn.
"This is another sign that money is coming off the sidelines to find a longer-term home," said Ed Moisson, head of UK and cross-border research at Lipper, "Redemptions from cross-border money market funds totalled €13.4bn, while the European total was €12.4bn of redemptions, resulting from inflows of €6.7bn into these products in France."
The international fund market (cross-border funds) still formed the bedrock of activity for the industry as a whole, accounting for 86% of inflows.
In the UK the equity revival strengthened, Moisson added, with the first month of inflows (€360m) since June. But bond and mixed asset funds remain the more popular.