Net sales of UCITS and AIFs totalled €43bn in April, when compared to €6bn in March, according to latest statistics by the European Fund and Asset Management Association (EFAMA).

Open-ended funds marketed in Italy saw net outflows of €2.3bn in May after the €3.2bn recorded in April, according to latest statistics from Assogestioni, the Italian association of asset management professionals.

LGT, the private bank owned by the royal family of Liechtenstein, has acquired a controlling stake in Validus Wealth, an Indian wealth management firm, gaining a foothold in India’s growing market for high-net-worth private clients.

Societe Generale and MFEX signed a long-term partnership agreement to manage all post trade services related to the transfer of Societe Generale Securities Services’ (SGSS) Global Fund trading activities currently operated by the bank’s Luxembourg arm.

It will be headed by Björn Edlund-Persson.

Pimco and Morgan Stanley were at the forefront of European fund flow, contributing more than €3 billion each, according to latest statistics by the Refinitiv Group's Lipper team.

The new office will be headed by Pedro Rego.

The transaction will give birth to the creation of a global fund distribution platform with combined assets under administration of more than CHF 570bn.

European fixed income ETF provider Tabula IM has been authorised by FINMA to list its products on the BX Swiss.