EFAMA released its latest research report this week, in which it finds that long-term UCITS favoured much stronger than shorter-term money market funds for June. Net outflows were EUR0.2 billion, helping to reverse the hefty EUR8.4 billion net loss in May, to leave them at EUR108.2 billion YTD. EFAMA proffers that improved investor confidence as the Eurozone begins to get to grips with its sovereign debt issues is one of the key drivers behind June’s long-term UCITS results. Further evidence of this is provided by the high money market outflows for June (EUR31 billion), although it should be pointed out that such outflows are symptomatic of the quarterly redemptions seen in this UCITS type. Overall, net assets for UCITS stand at EUR5,496 billion; down -0.4 per cent on May. In terms of market segment, Equity funds remain the most popular (31 per cent), closely followed by Bond and Money Market funds (both 24 per cent).