UCITS funds attract €24bn inflows in August, EFAMA
Net sales of UCITS funds recorded net inflows of €24bn in August, up from €6bn in July, according to the latest Investment Fund Industry fact sheet published by the European Fund and Asset Management Association (EFAMA).
This increase in net sales came on the back of a turnaround in net sales of money market funds.
Long-term UCITS registered net inflows of €13bn in August, down from €25bn in July.
Bond funds continued to record strong net inflows of €18bn. Balanced funds registered increased net sales in July, €6bn compared to €3bn in July.
Equity funds recorded their fifth consecutive month of net outflows in August of €10bn, compared to €3bn in July.
Money market funds experienced a turnaround in net outflows in August to record net inflows of €11bn, against net outflows of €18bn in July.
Total net assets of UCITS increased by 0.3% in August to €6,200bn, whilst non-UCITS net assets increased 0.5% in the month to stand at €2,458bn.
Data were based on 24 associations representing more than 99.6% per cent of total UCITS and non-UCITS assets at the end August of 2012.