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.”

 

ABOUT THE AUTHOR
Viola Caon
preloader
Close Window
View the Magazine





You need to fill all required fields!