UCITS and AIFs registered net outflows of EUR38 billion in November, compared to net inflows of EUR1 billion in October, according to the European Fund and Asset Management Association’ (EFAMA) latest Investment Fund Industry Fact Sheet.
This development was mainly due to a turnaround in net sales of money market funds in both the UCITS and AIF markets.
UCITS recorded net outflows of EUR40 billion, compared to net outflows of EUR8 billion in October, with long-term UCITS (UCITS excluding money market funds) continuing to suffer from net outflows, albeit at a lower level (EUR27 billion, compared to EUR41 billion in October).
Net sales of equity funds rebounded to a positive level (EUR3 billion, compared to net outflows of EUR2 billion in October), while net outflows from bond funds slowed down to EUR17 billion, from EUR24 billion in October, and multi-asset funds recorded stronger net outflows (EUR8 billion, compared to EUR5 billion in October).
UCITS money market funds experienced net outflows of EUR13 billion, compared to net inflows of EUR33 billion in October.
AIFs recorded net inflows of EUR2 billion, down from EUR9 billion in October, while total net assets of UCITS and AIFs decreased by 0.3 per cent to EUR15,651 billion.
Bernard Delbecque (pictured), Senior Director for Economics and Research at EFAMA, says: “Long-term UCITS continued to suffer from negative net sales in November, although less markedly than in October, in part thanks to a rebound in net sales of equity funds.”
