European investment fund growth slows

European investment fund growth pared back in the first quarter, falling 20 basis points from end-2017, largely driven by the sluggish performance of bond funds.

At end-March, the growth rate of all euro area investment funds was 8.3%, down from 8.5% at end-2017, continuing a downward trend in evidence since January. 

Bond funds slowed the most, with a growth rate of 8.2% at end-March, compared with 10.6% at end-2017. On the flipside, hedge funds grew the fastest, hitting a growth rate of 10.9