20 October 2016

EFAMA: In July, net sales of UCITS get strong recovery from the UK referendum drop

The main developments in July 2016 can be summarized as follows:

• Net inflows into UCITS and AIF totaled EUR 66 billion, compared to EUR 14 billion in June. 
• UCITS registered inflows of EUR 49 billion, up from net outflows of EUR 10 billion in June.
  • Long-term UCITS (UCITS excluding money market funds) recorded net inflows of EUR 25 billion, compared to net outflows of EUR 10 billion in June. Outflows from equity funds decreased from EUR 21 billion in June to EUR 2 billion in July. Net sales of bond funds increased from EUR 8 billion in June to EUR 23 billion in July. Multi-asset funds decreased from EUR 2 billion in June to EUR 0.1 billion in July.
  • UCITS money market funds recorded net sales of EUR 24 billion, compared to net outflows of EUR 0.5 billion in June.
• AIF recorded net inflows of EUR 16 billion, down from EUR 24 billion in June. This was mainly caused by a decrease in flows to AIF multi-asset and AIF “other” funds. 
• Net assets of UCITS increased by 2.6% to EUR 8,344 billion in July, and AIF net assets increased by 2.3% to EUR 5,345 billion. Overall, total net assets of European investment funds increased by 2.5% in July to stand at EUR 13,690 billion at the end of the month.

Bernard Delbecque, Senior director for Economics and Research at EFAMA commented: “Net sales of UCITS recovered strongly in July from the outcome of the UK referendum, with bond funds enjoying strong net inflows on the back of falling long-term interest rates and equity funds recovering from the large net outflows recorded in June. “

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