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Global investment fund assets total EUR17.36 trillion at the end of Q3 2010, says EFAMA

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Investment fund assets worldwide stood at EUR 17.36 trillion at the end September 2010, slightly lower than the EUR 17.5 trillion recorded at end June 2010, according to the latest figures released by the European Fund and Asset Management Association (EFAMA).

In US dollar terms however, worldwide investment fund assets increased 10.5 per cent during the quarter.  The appreciation of the Euro vis-à-vis the US dollar explains this result.
 
Total inflows into investment funds amounted to EUR156 billion during the third quarter of 2010, the highest level recorded since the first quarter of 2008.  Reduced net withdrawals from money market funds and continued large inflows into bond funds were the driving factors behind these inflows.
 
Net inflows to long-term funds (all funds excluding money market funds) increased to EUR190 billion in the third quarter, slightly up compared to the EUR180 billion of inflows recorded in the previous quarter.  An increase in net inflows into bond funds from EUR 83 billion to EUR 128 billion explained much of this development.  This happened against the backdrop of a rise in net outflows from equity funds in the United States to EUR 24 billion and a turnover in the flows into equity funds in Europe from net withdrawals of EUR 12 billion in the second quarter to net inflows of EUR 4 billion in the third quarter. 
 
Net outflows from money market funds reduced drastically from EUR194 billion in the second quarter to EUR 34 billion in the third quarter.  The decline was observed in Europe as well as in the United States.
 
At the end of the third quarter of 2010, assets of equity funds represented 40 per cent and bond funds represented 22 per cent of all investment fund assets worldwide.  The asset share of money market funds was 19 per cent and the asset share of balanced/mixed funds was 11 percent.
 
Taking into account non-UCITS, the market share of Europe in the world investment fund market reached 37.5 per cent at end September 2010, and that of the United States 43.0 per cent.  Excluding non-UCITS, the share of Europe and the United States reached 30.9 per cent and 47.5 per cent, respectively.

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