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Ucits show net outflows of EUR28bn in Q2 2010

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Ucits experienced net outflows of EUR28bn in the second quarter of 2010, compared to net inflows of EUR48bn in the first quarter of 2010, according to data from the European Fund and Asset Management Association.

Long-term Ucits (those excluding money market funds) benefited from net inflows of EUR23bn in the second quarter, down from EUR86bn in the first quarter. 

Efama believes that investor apprehension in the market caused by the Greek crisis affected investors’ appetite for risk.
 
Money market fund net outflows increased from EUR38bn in the first quarter to EUR51bn in the second quarter. This development is thought to be the result of investors’ expectations that short-term interest rates will remain low for the foreseeable future.

The total value of net assets of Ucits decreased by 0.5 per cent in the second quarter to reach EUR5,606bn at end June 2010. Equity funds experienced the highest asset decrease (EUR76bn), followed by money market funds (EUR45bn).
 
The total value of net assets of non-Ucits increased by 2.6 per cent in the second quarter to reach EUR1,888bn at end June 2010. Assets of special funds reserved for institutional investors increased by 2.3 per cent during the second quarter, thanks to continued strong net inflows (EUR26bn).
 
The combined assets of the investment fund market in Europe recorded a slight increase of 0.2 per cent in the second quarter to reach EUR7,494bn at end June 2010.

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