Funds assets rise worldwide says EU trade body

Investment fund assets worldwide increased 3% in Q2 to reach €17.5trn, according to the latest quarterly international stats released by the European Fund and Asset Management Association (EFAMA)

Enduring net withdrawals from money market funds continued to offset positive net sales of long-term funds. Consequently, net flows to all funds remained negative in Q2, although less so than during the first quarter (€14bn compared to €40bn).

Net inflows to long-term funds (all funds excluding money market funds) reduced to €180 bn from €254bn in the previous quarter. A decline in net inflows into bond funds and equity funds explained this development, EFAMA said.

Net outflows from money market funds reduced from €294bn in the first quarter to €194bn in the second quarter. Over the past year, net outflows from money market funds have averaged €206bn per quarter.

At the end of June 2010, assets of equity funds represented 38% of all investment fund assets worldwide, down from 40% in the first quarter. The asset share of bond funds was 22% and the asset share of balanced/mixed funds was 11%. Money market fund assets represented 21% of the worldwide total.

Taking into account non-UCITS, the market share of Europe in the world market reached 36.3% at end June 2010, and that of the United States 44.4%. Excluding non-UCITS, the share of Europe and the United States reached 29.9% and 48.8%, respectively.

EFAMA is the representative association for the European investment management industry. It represents through its 26 member associations and 44 corporate members approximately €13 trn in assets under management, of which €7trn was managed by approximately 52,000 funds at the end of December 2009. Just under 36,000 of these funds were UCITS (Undertakings for Collective Investments in Transferable Securities) funds.

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