European AM industry recovered in July

Ucits funds across Europe attracted €63bn net inflows in July, making up for June’s €17bn outflows, the European Fund and Asset Management Association (EFAMA) reported in its latest Investment Funds Industry Fact Sheet.

Efama attributed the rebound to a “turnaround” in net sales of money market funds and bond funds.

At the same time however, long term Ucits (namely Ucits excluding money market funds) registered net inflows of €39bn, up from €18bn in June.

Bond funds recorded net inflows of €4bn, compared to net outflows of €7bn in June.   Net sales of balanced funds increased to €18bn, compared to €15bn in June.

Equity funds also enjoyed stronger net sales of €12bn, up from €7bn in June. Money market funds recorded net inflows of €24bn, compared to net outflows of €35bn in June.

Total non-Ucits net sales amounted to €8bn in July, down from €19bn in June.  Net sales of special funds (funds reserved to institutional investors) totaled €7bn, compared to €17bn.

Net assets of Ucits stood at €9,070bn at end July 2015, representing an increase of 1.8% during the month, whilst net assets of non-Ucits increased by 0.8 percent to stand at €3,594bn at month end. Overall, total net assets of the European investment fund industry rose by 1.5% to stand at €12,663bn at end July 2015.

Bernard Delbecque, Director for Economics and Research at Efama commented: “The rebound in net sales of long-term Ucits in July suggests that investor confidence strengthened at the beginning of the summer.”


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