Net sales of equity funds break even in August
Net sales of Ucits amounted to €38bn in August compared to €59bn in July, the European Fund and Asset Management Association (Efama)’s latest Investment Funds Industry Fact Sheet
The report was put together after polling 27 associations representing more than 99.6% of total Ucits and non-Ucits assets at end August 2014 and aimed at providing sales and/or net assets data.
The slow-down in net sales from July was attributed to reduced net sales of equity and money market funds during the month, Efama said.
Long-term Ucits (Ucits excluding money market funds) posted net inflows of €29bn, also down from €41bn in July.
Looking at the specific sector breakdown, net sales of equity funds broke even during August, compared to net inflows of €12bn in the previous month. Bond funds also registered a slight decrease in net sales to €15bn, from €17bn. Balanced funds registered net sales of €11bn, also compared to €15bn in July.
Total net assets of Ucits stood at €7,769bn at end August 2014, representing a 2% increase during the month. Total net assets of non-Ucits increased 1.2% to stand at €3,081bn at month end. Overall, total net assets of the European investment fund industry stood at €10,850bn at end August 2014.
Bernard Delbecque, director of Economics and Research commented: “Net sales of equity funds fell to break-even level in August on the back of a subdued global growth outlook and geopolitical uncertainties.”