Money market funds lead Ucits outflows

Data from the European Fund and Asset Management Association (Efama) suggests that Europe’s Ucits industry saw net sales slow to €1bn in September, which is put down mainly to flows out of money market funds.

The industry saw net inflows of €9bn in the previous month. Efama said that while money market funds experienced net outflows of €11bn against inflows of €12bn in August, this could be put down to usual redemptions seen at the end of quarters.

However, excluding short term money market funds, the long term funds market saw net inflows of €12bn through September, against net outflows of €3bn in August.

Long term fund investors seemed more keen to buy risk, with equity Ucits attracting a net €3bn, against similar levels of outflows in August. Bond funds attracted €1bn versus €12bn in outflows the previous month. Sales of multi-asset funds remained constant at €8bn.

Overall net assets of Ucits across the industry stood at €7.8trn at the end of September, down some 2.2% through the month.

Net assets of alternative investment funds (AIFs) were down 2.5% to €4.3trn. Overall industry assets fell some 2.3% to €12.1trn according to Efama figures.

Click here to see an infographic of Efama data: EFAMA Fact Sheet (Sept)


Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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