Efama: ECB QE boosts Ucits sales
Net sales of Ucits funds jumped in January to €83bn, compared to net outflows of €12bn in December, according to the latest data presented by The European Fund and Asset Management Association (Efama).
Bernard Delbecque, director of Economics and Research commented: “Net sales of UCITS increased considerably in January on the back of the ECB decision to launch a quantitative easing programme and the related expectation of stronger economic growth and lower interest rates in the euro area.”
According to Efama, the turnaround in net sales came on the back of a large increase in net sales of long-term Ucits and a strong return to positive net sales of money market funds, with long-term Ucits funds reporting €55bn of net new inflows in Janaury, compared to €16bn in December.
Meanwhile, bond fund net sales returned to positive territory in January posting inflows of €18bn, against net outflows of €1bn in December.
Equity funds recorded net sales of €9 billion, up from breakeven point in December, balanced funds enjoyed a rise in net sales to €27bn in January, compared to €13bn in December.