Sharp fall in net sales of Ucits in August

Ucits experienced a sharp decline in net sales registering €9bn in August, compared to the net inflows of €63bn in July, the European Fund and Asset Management Association (Efama) has revealed.

Its latest Investment Funds Industry Fact Sheet, which provides net sales of Ucits and non-Ucits for July 2015, polled 26 associations representing more than 98.5% of total Ucits and non-Ucits assets.

Efama attributed the sharp fall to outflows from equity and bond funds, as well to a reduction of net inflows into balanced funds and money market funds.

Long-term Ucits (Ucits excluding money market funds) registered net outflows of €3bn, down from net inflows of €39bn in July. Bond funds recorded net outflows of €12bn, compared to net inflows of €4bn in July.

Equity funds also saw net outflows (€3bn compared from net inflows of €12bn in July).  Net sales of balanced funds remained positive, totalling €8bn compared to €18bn in July.  Money market funds recorded net inflows of €12bn, compared to €24bn in July.

Total non-Ucits net sales amounted to €6.4bn in August, down from €8bn in July.  Net sales of special funds (funds reserved to institutional investors) totalled €8.3bn, up from €6.5bn in July.

Net assets of Ucits and non-Ucits stood at €7,970bn and €4,373bn at end August 2015. Overall, total net assets of the European investment fund industry decreased by 2.5%in August to stand at €12,343bn at end August 2015.

Bernard Delbecque, Director for Economics and Research at Efama commented: “Volatile markets triggered net outflows from equity and bond funds in August.  However, total net sales of Ucits and non-Ucits remained positive, totalling €15bn”.

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