There was a sharp rebound in net asset inflows for UCITS in November, EFAMA revealed in their latest industry report this week.
There was a sharp rebound in net asset inflows for UCITS in November, EFAMA revealed in their latest industry report this week. Having only attracted EUR7billion for October, November saw EUR16billion in new capital allocations, increasing net sales to EUR92billion YTD. The key reason for the increase was a reversal in money market funds: net outflows of EUR20billion in October were replaced by net inflows of EUR4billion in November; just the second positive month since August ’09. Long-term UCITS were actually down on October, attracting EUR12billion compared to EUR26billion but nevertheless YTD figures were very healthy: EUR215billion. Equity funds recorded inflows of EUR8billion. Bond funds, however, attracted just EUR0.3billion as continued European sovereign debt default concerns pushed investors into money market funds, and to a less extent equity funds. August ’10 remains by far the strongest month for UCITS net inflows, having attracted EUR54billion, with June recording the year’s worst monthly performance (YTD): a loss of EUR31billion. November’s net inflows meant that overall net assets in UCITS climbed 1.8 per cent to leave them at EUR5.815billion for the year.
