UCITS continued to experience strong net inflows in February amounting to EUR 19 billion, albeit down from EUR 25 billion recorded in January, according to figures released by the European Fund and Asset Management Association (EFAMA).
All fund categories recorded positive net inflows during the month.
Net sales of long-term UCITS (UCITS excluding money market funds) remained steady in February registering net inflows of EUR 18 billion, compared to EUR 19 billion in January.
Bond funds recorded net inflows of EUR 9 billion in February, down from EUR 13 billion in January.
Net sales of equity funds registered net inflows of EUR 4 billion, the same level as in January.
Balanced funds also enjoyed net inflows of EUR 1 billion during the month, compared to EUR 2 billion in January.
Money Market funds recorded a reduction in net inflows in February to EUR 1 billion, compared to EUR6 billion in January.
Total non-UCITS recorded a jump in net sales in February to register net inflows of EUR 16 billion, up from EUR 7 billion in January. Special funds (funds reserved to institutional investors) recorded an increase in net inflows in February of EUR 16 billion, compared to EUR 7 billion in January.
Total assets of UCITS increased 1.9 per cent in February to stand at EUR 5,821 billion at end February. Total assets of non-UCITS enjoyed an increase of 1.7 per cent in February to EUR 2,268 billion at month end.
Bernard Delbecque (pictured), Director of Economics and Research at EFAMA, says: “UCITS continued to attract net new money in February as investor sentiment remained supported by the positive impact of the ECB longer-term refinancing operations on the funding conditions for banks and the stability of financial markets at large.”