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UCITS enjoyed a surge in demand in the first quarter to €130 billion, marking the largest quarterly net inflows since the first quarter of 2006. This compares with net sales of €78 billion in the previous quarter. 10 countries attracted net inflows in excess of €1 billion. Investor confidence on the economic outlook strengthened in the first quarter as financial markets around the globe enjoyed a strong start to 2013, all of which fed into the high net sales of UCITS.
Total net assets of non-UCITS increased by 3.9 per cent in the first quarter to stand at €2,751 billion at end March 2013. Assets of special funds reserved to institutional investors registered growth of 4.4 per cent during the quarter, thanks to sustained net sales (€43 billion, compared to €44 billion during the fourth quarter).
The combined assets of the investment fund market in Europe, i.e. the market for UCITS and non-UCITS, increased by 5.0 per cent in the first quarter to break through the €9 trillion mark to stand at €9,393 billion at end March 2013.