The European Fund and Asset Management Association (EFAMA) has published its Quarterly Statistical Release describing the trends in the European investment fund industry in the third quarter of 2020 which reveals that net sales if long-term funds remained robust in Q3.This Quarterly Statistical Release also provides information on the owners of investment funds in Europe and their net purchases of funds during the second quarter of 2020.
The report is complemented by a data annex which provides fund data by country of domiciliation.
According to the report, net assets of UCITS and AIFs grew by 2.8 per cent to EUR17.58 trillion, while UCITS and AIFs attracted EUR195 billion in net inflows, compared to EUR284 billion in Q2 2020 and net outflows of EUR125 billion in Q1 2020.
Net inflows remained robust across all categories of long-term funds, while net sales of money market funds declined to EUR41 billion, from EUR136 billion in Q2 2020.
Net acquisitions of investment funds by European investors meanwhile, amounted to EUR148 billion in Q2 2020, compared to net withdrawals of EUR88 billion in Q1 2020.
Bernard Delbecque, Senior Director for Economics and Research at EFAMA, says:“Net sales of long-term funds remained robust in Q3 2020, reflecting investor confidence during the summer that the worst of the Covid-19 crisis was already behind.”