Europe funds managers may have lost $100B in Q4: Bloomberg

|About: Direxion Daily European Fin... (EUFL)|By:, SA News Editor

European open-ended funds lost about $100B in the last three months of 2018, Amundi SA estimates.

The French company itself had Q4 outflows of $7.4B in an "extremely hostile" market, said its CEO, Yves Perrier, Bloomberg reports.

The poor Q4 showing isn't spurring fund managers to scrap their targets for this year.

Perrier still plans to raise at least EUR 50B each year through 2020, a goal missed by EUR 8B last year.

DWS Group CEO Asoka Woehrmann says he's sticking with an "ambitious" medium-term goal of bringing in about EUR20B per year.

ETFs: EUFN, EUFL

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