The month of November was a positive one for Europe's mutual fund industry - with the exception of bond funds.

The European mutual fund industry logged net inflows of €2.3 billion ($2.49 billion) into long-term mutual funds for November, taking estimated overall net sales of such funds to €322.7 billion since the start of January, according to Thomson Reuters Lipper.

Equity funds (+€5.2 billion) were the best-selling asset type, followed by alternative UCITS (+€2.8 billion), mixed-asset funds (+€2.0 billion), real estate funds (+€300 million) and commodity funds (+€200 million). 

Bond funds (-€7.8 billion) saw the highest net outflows. Money market products logged net inflows of €23.0 billion.

The fund markets with the highest net inflows for November were Ireland (+€20.4 billion), France (+€5.2 billion), Luxembourg (+€3.8 billion), Germany (+€2.1 billion), and the UK (+€1.3 billion). Switzerland (-€2.2 billion), Norway (-€2.2 billion) and Spain (-€1.5 billion) saw net outflows, figures showed.

BlackRock, with net sales of €5.5 billion, was the best-selling fund group for November overall, ahead of Goldman Sachs (+€5.4 billion) and Aviva (+€4.8 billion).