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Investment fund assets worldwide stood at EUR19.5 trillion at the end March 2011

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Investment fund assets worldwide stood at EUR 19.5 trillion at the end of March 2011, slightly lower than the EUR 19.9 trillion recorded at the end of December 2010, according to the latest quarterly international statistics released by European Fund and Asset Management Association (EFAMA). However, in US dollar terms, worldwide investment fund assets increased 4.0 per cent during the quarter. The appreciation of the euro vis-à-vis the U.S. dollar during the quarter explains this result.

 
Net inflows into investment funds amounted to EUR102 billion during the first quarter of the year, compared to net inflows of EUR165 billion in the previous quarter. Increased net withdrawals from money market funds was the main driving force behind the reduced net inflows.
 
Net inflows to long-term funds (all funds excluding money market funds) reduced to EUR176 billion during the quarter, less than EUR198 billion of inflows recorded in the previous quarter.
 
Bond and balanced/mixed funds enjoyed a modest increase in net inflows during the quarter to record EUR42 billion and EUR33 billion respectively. 
 
Equity funds continued to record net inflows amounting to EUR45 billion, although down from net inflows of EUR68 billion in the last quarter of 2010.
 
Net inflows into long-term funds in Europe reduced from EUR67 billion to EUR39 billion during the quarter, reflecting renewed tensions in stock and sovereign debt markets. In the United States net sales of long-term funds increased from EUR 90 billion in the previous quarter to EUR 95 billion in the first quarter of 2011.
 
Net outflows from money market funds experienced a sharp increase from EUR33 billion in the fourth quarter of 2010 to EUR74 billion in the first quarter of 2011. The United States saw a turnaround in net flows during the quarter recording net outflows of EUR 57 billion, considerably lower than the net inflows of EUR 4 billion observed in the previous quarter. Europe experienced a reduction in net outflows from money market funds during the quarter of EUR 9 billion, compared to net outflows of EUR 41 billion in the previous quarter.

At the end of the first quarter of 2011, assets of equity funds represented 40 per cent and bond funds represented 20 per cent of all investment fund assets worldwide. The asset share of money market funds was 18 per cent and the asset share of balanced/mixed funds was 10 per cent.  
 
Taking into account non-UCITS, the market share of Europe in the world market reached 36.9 per cent at the end of March 2011, and the United States reached 42.2 per cent world market share. Excluding non-UCITS, the share of Europe and the United States reached 30.0 per cent and 46.9 per cent, respectively.
 

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