European funds saw outflows of €19.7 billion (£16.57 billion) during October, according to research released by Lipper.
However, stronger performing bond and equity indices helped lift total assets by 2.3% to reach €5.2 trillion in October.
Activity still appears subdued compared to the €5.5 trillion recorded at the end of 2010.
Bond and equity outflows amounted to €1.2 billion and €10.6 billion, respectively.
US bond funds apparently demonstrated a particularly strong performance, taking €580m in October. Commodity funds too showed signs of strengthening as outflows of €1.3 billion in September were replaced by inflows of €520m.
In terms of individual fund groups, Allianz/PIMCO was the best performing, with net sales of €1 billion. Muzinich followed with €680m and Prudential/M&G with €550m.
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