Europe-domiciled long-term funds saw €50.6bn of net inflows in November 2024 and passive strategies took in €41.2bn, hitting a new record high, according to Morningstar's latest European Asset Flows Commentary, showing data and analysis of open-end funds and ETFs domiciled in Europe for November 2024.

"Europe-domiciled long-term funds attracted €50.6bn in net inflows during November 2024, with passive strategies setting a new record at €41.2bn," said Valerio Baselli, Senior International Editor at Morningstar.

"Equity funds maintained strong momentum, pulling in €39.2bn—their best monthly performance since April 2021—while fixed-income strategies saw €13.6bn in net inflows, marking their 13th consecutive month of positive flows."

Fixed-income strategies had €13.6bn of net inflows in November, marking the 13th consecutive positive month in terms of flows.

Allocation strategies returned in positive territory, after 17 months of net redemptions.

Alternative funds continued to bleed assets during the month, with €756m of net outflows.

Long-term funds classified as Article 8 had €4.5bn of net inflows in November. Conversely, Article 9 products shed €500m.

US large-cap blend equity was the top-selling Morningstar Category of the month, followed by the global large-cap blend equity and UK large-cap equity categories.

Last month, global emerging-markets bond funds saw the highest net outflows at the category level (€3.6bn), followed by funds sitting in the global emerging-markets equity category (€2.8bn of net redemptions).

In November, iShares topped the rankings of asset-gatherers, followed by HBOS and Xtrackers. Schroders, UBS, and Alfred Berg were the biggest laggards of the month.

The newly launched Halifax UK Equity Tracker Fund had inflows of €5.3bn in November, while Alfred Berg Nordic Investment Grade Medium Duration, which has been liquidated, had €1.5bn in net redemptions.

Money market funds had €48.9bn in net inflows, the second-best monthly result in two years.

Assets in long-term funds domiciled in Europe increased to €12.733trn by month's end from €12.264trn at the end of October.