The volume of actively and passively managed mutual funds edged up in November of 2013, according to a new report.
Cerulli Associates discloses this finding in the January 2014 issue of the "Cerulli Edge: European Monthly Product Trends." The report examines monthly products trends, globally and by country, regarding mutual funds, money market funds and new products.
The report reveals that actively managed mutual funds hit €4.669 trillion in November of 2013, up €29 billion from October of 2013. Passively managed assets also rose to €651 billion in November, a 1 percent increase from the month prior.
The report also notes gains in net new flows of long-term mutual funds during the period examined.
"For the third consecutive month, net new flows (NNF) to long-term mutual funds were in positive territory, supported by sustained net inflows to equity funds," the report states. "November year-to-date NNF of equity and mixed asset funds were almost on par with NNF to bond funds."
