The European funds industry achieved net inflows of €65bn into long-term mutual funds for February 2015, far outpacing those for January (€25.7bn), according to Lipper's latest monthly snapshot of European fund flow trends.

Single fund market flows were by and large positive, with only 8 of the 33 markets covered by the data provider showing net outflows. 

The market with the highest net inflow for February was Italy (€5.6bn), followed by Germany (€4.8bn) and Switzerland (€3.1bn). 

At the other end of the spectrum, the UK (-€1.8bn) had the highest outflows, with the Netherlands (-€0.3bn), and Denmark (-€.0.2bn) in second and third place with nearly flat flows.

All asset classes had net inflows except 'other' products (-€0.003bn). With estimated net inflows of €24.5bn, bond flows were the best selling asset class overall for February, followed by multi-asset funds with €21.2bn, equity funds  with €17bn, commodity funds €1.0bn, property funds €0.9bn, and alternative/hedge products €0.6bn.

Provisional figures for Luxembourg- and Ireland-domiciled funds suggest bond funds, with estimated net inflows of around €18.6bn, will also be the best selling products for March 2015.

The best selling sector among the long-term funds was asset allocation (€12.2bn), followed by equities Europe funds (€5.8bn) and funds of funds conservative (+€4.9bn). Bonds EUR corporate investment-grade funds (+€4.7bn) was forth most popular. 

Meanwhile the equities North America sector suffered highest net outflows (-€4.2bn), followed by target maturity (-€1.7bn) and guaranteed (-€1.7bn).

In terms of individual asset managers in Europe, BlackRock, with net sales of €6.8bn, was the best selling group of long-term funds for February, ahead of Intesa SanPaolo with sales of €3.4bn and Deutsche Asset & Wealth Management with €3.2bn.