Long-term Ucits, which exclude money market funds, registered net inflows of €37bn, down from €48bn in May, according to the European Fund and Asset Management Association (EFAMA)’s latest Investment Funds Industry Fact Sheet.
The report, which provided net sales of Ucits and non-Ucits for June 2014, also said that net sales of Ucits fell to €22bn from €43bn in May, on account of a decline in net sales of long-term funds and increased net outflows from money market funds.
The drop in Ucits flows throughout Europe was caused by a slow-down in both bond and equity funds. Bond funds net sales went down to €13bn from €20bn in May; while equity funds net sales dropped from €7bn in May to €2bn in June.
In contrast, balanced funds enjoyed increased net inflows of €18bn compared to €17bn in May.
More in details:
• Money market funds registered net outflows of €15bn, compared to net outflows of €5bn in May.
• Total non-Ucits net sales reduced in June to €8bn from €9bn in May.
• Total net assets of Ucits stood at € 7,525bn at the end of June 2014, representing a 1.1% increase during the month. Total net assets of non-Ucits increased 1.1% to stand at €3,013bn at the end of the month. Overall, total net assets of the European investment fund industry stood at €10,538bn.
Bernard Delbecque (pictured), director of Economics and Research, commented: “Net sales of long-term Ucits declined in June on the back of mixed economic data and heightened geopolitical tensions.”