Research from Morningstar found that allocation funds saw record inflows of €12.5bn ($16.8bn, £9.9bn), the largest since the company started collecting data in 2007.
Fixed-income funds also saw impressive new business, taking in €18.5bn, its highest inflow since May 2013.
However, inflows into equity funds shrunk to €730m, its lowest figure since June 2013, which Morningstar put down to “profit-taking out of a wide array of global, US and European categories”.
Meanwhile, the UK’s Investment Management Association (IMA) reported that equity funds were the best-selling asset class for the fifteenth consecutive month, with net retail sales of £1.2bn.
It reported that UK equity income was the best-selling sector, with record net retail sales of £1.4bn.
It also recorded fund net retail sales of £2.1bn and funds under management of £798bn.
The IMA is the UK trade body for retail and institutional asset managers, managing £5trn of UK assets as of December 2013.
In April, the IMA and the Association of British Insurers partially merged to form a new organisation covering the “full spectrum” of investment management activity.
The ABI said its investment activities, including the Institutional Voting Information Service, will now operate in conjunction with the IMA.