European fund industry Q1 2018 net sales reach €222bn – Efama
The European Fund and Asset Management Association (Efama) reported net sales of Ucits and AIFs have amounted to €222bn at the end of the first quarter of 2018 (vs €189bn in Q4 2017). This figure includes Ucits funds’ net sales of €171bn (vs €170bn in Q4 2017), of which €126bn were boarded in January.
Among trends spotted by Efama, net sales of Ucits equity funds and multi-asset funds have increased as they amounted to €85bn (from €56bn in Q4 2017) and €58bn (from €54bn in Q4 2017) respectively. Net sales of bond funds faced a severe decrease in the three first months of 2018, dropping to €27bn from €75bn in Q4 2017.
Continued outflows were seen in Ucits-compliant money market funds since they faced €2bn outflows in Q1 2018, after suffering a €3bn exit in Q4 2017.
Between January and March 2018, the five countries with the largest net Ucits funds sales were Luxembourg (€67.9bn), followed by France (€32.9bn), Ireland (€28.4bn), Spain (€10.1bn), and Switzerland (€9.4bn).
Efama also reported strong net inflows into Ucits funds in United Kingdom (€7.3bn), Germany (€5.3bn), Denmark (€3.5bn) and Italy (€3bn).
Regarding Ucits ETFs, net sales in Q1 2018 amounted to €23bn, up from €9bn in Q4 2017 and representing 13.5% of all Ucits net sales.
Alternative investments funds’ net sales hit €51bn (vs €19bn in Q4 2017). Net outflows were recorded in alternative equity and bond funds.
In the end, the European investment fund was worth €15.54trn as at end March 2018, down 0.5% quarter-on-quarter. Net assets of Ucits plumetted by 0.6% qoq to €9.67trn while AIFs assets decreased by 0.4% qoq to €5.87bn.