February 7, 2018 / 12:54 PM / 4 months ago

BlackRock sees biggest European fund inflows in 2017: Morningstar

LONDON (Reuters) - BlackRock, the world’s biggest fund manager, saw the largest inflows in the European asset management sector in 2017 at 62.7 billion euros ($77.42 billion), according to data from Morningstar.

FILE PHOTO: The BlackRock logo is seen at the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. REUTERS/Toru Hanai/File Photo

Record net inflows across the sector took European-domiciled open-end funds to 8.9 trillion euros under management, up 12 percent from 7.96 trillion in 2016, Morningstar said in a statement on Wednesday.

Standard Life’s global absolute return strategies fund saw net outflows of 9 billion euros.

Standard Life merged last year with Aberdeen Asset Management to form Standard Life Aberdeen.

($1 = 0.8099 euros)

Reporting by Carolyn Cohn, editing by Maiya Keidan

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