Ucits continued to register strong net inflows of EUR36bn in November, compared to EUR41bn recorded in October, according to the latest Investment Fund Industry Fact Sheet from the European Fund and Asset Management Association (EFAMA).
Long-term Ucits (Ucits excluding money market funds) net sales rose in November to EUR36bn, from EUR34bn in October.
Net sales of equity funds amounted to EUR13bn, up from EUR3bn the previous month.
Net inflows into bond funds amounted to EUR19bn, compared to EUR25bn in October.
Balanced funds registered a reduction in net sales month on month of EUR3bn versus EUR5bn.
Net sales of money market funds broke even in November after recording net inflows of EUR6bn in October.
Net sales of non-Ucits totalled EUR8bn, down from EUR13bn in October.
Special funds (funds reserved to institutional investors) reduced sharply in November to EUR3bn, compared to EUR10bn in the previous month.
Total net assets of Ucits increased 1.1 per cent in November to EUR6,316bn, whilst non- Ucits net assets increased 0.9 per cent to stand at EUR2,502bn.
Bernard Delbecque, director of economics and research at EFAMA, says: “Net inflows into bond funds remained the largest contributor to total net sales of Ucits in November. The substantial volume of net sales of equity funds was largely due to the transfer of some insurance company assets into Ucits.”