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Bernard Delbecque, EFAMA

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Investors turn to highly liquid and low-risk investments in November

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UCITS registered decreased net outflows of EUR9 billion in November, down from net outflows of EUR30 billion in October, according to the European Fund and Asset Management Association’s (EFAMA) latest Investment Fund Industry Fact Sheet, which provides investment sales and asset data for November 2011. This reduction is attributable to strong net inflows into money market funds during the month.

 
Long-term UCITS (UCITS excluding money market funds) witnessed increased net outflows in November amounting to EUR29 billion, compared to EUR19 billion in October. 
 
Net outflows from equity funds doubled from EUR8 billion in October to EUR16 billion in November, while bond funds also saw net outflows increase to EUR11 billion from EUR5 billion in October.  
 
On the other hand, net flows of balanced funds broke even during November, after recording net outflows of EUR5 billion in October.

Money market funds meanwhile, witnessed a turnaround in net flows in November to record net inflows of EUR20 billion, compared to net outflows of EUR10 billion a month earlier.
 
Total non-UCITS net sales increased during November to EUR11 billion, compared to EUR7 billion in October.  This increase was attributable to an increase in net inflows to special funds (funds reserved to institutional investors) from EUR8 billion to EUR11 billion.
 
Total assets of UCITS decreased by 1.2 per cent in November to stand at EUR5,425 billion, while total assets of non-UCITS enjoyed a modest increase in November of 0.4 percent to stand at EUR2,144 billion. 
 
Bernard Delbecque (pictured), Director of Economics and Research at EFAMA, says: “Heightened concerns about the euro area sovereign debt crisis and growing fear of a global economic slowdown pulled investors away from equity and bond funds towards highly liquid and low-risk investments.” 

 

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