Data on net sales of Ucits and AIFs through March published by the European Fund and Asset Management Association point to a sharp turnaround in the poor net sales of money market funds compared with the previous month as a key factor in overall sustained net sales of Ucits.
In February, the organisation recorded net outflows of €35.4bn from money market Ucits. In March the net outflow was much improved at €4.6bn.
The relative improvement of some €31bn in the net outflows recorded helped offset the relative decline seen in sales of equity Ucits – Down from a positive €25.3bn in February to €14.2bn in March, and decline in net bond sales from €4.1bn in February to €2.7bn in March.
Another key trend change spotted in March was the sharp increase in net sales of multi-asset funds. From €15.8bn in February, sales hit €24.3bn in March.
Net assets as a share of the Ucits industry accounted for by multi-asset funds have now hit 19%, Efama’s data suggests.
Equity and bond Ucits respectively still lead by market share on this basis, accounting for 38% and 27%.
Total net sales of Ucits through March hit €37.7bn, up frmo €11.4bn in February. This offset the relative decline in sales of alternative investment funds (AIFs), which went from €13.3bn to €9bn in March.
Total net sales of Ucits and AIFs in March therefore hit €46.7bn, up from €24.8bn in February.
Total net assets of Ucits funds and AIFs, was recorded as €15.606trn, slightly down from €15.682bn in February.