EFAMA: Net sales of equity funds rebounded in November
24 January 2019 Brussels
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UCITS and alternative investment funds (AIFs) registered net outflows of €38 billion in November 2018, compared to net inflows of €1 billion in October, according to The European Fund and Asset Management Association (EFAMA).
This development was mainly due to a turnaround in net sales of money market funds in both the UCITS and AIF markets.
UCITS recorded net outflows of €40 billion, compared to net outflows of €8 billion in October.
Long-term UCITS (UCITS excluding money market funds) continued to suffer from net outflows, albeit at a lower level (€27 billion, compared to €41 billion in October).
Net sales of equity funds rebounded to a positive level (€3 billion, compared to net outflows of €2 billion in October.
Net outflows from bond funds slowed down to €17 billion, from €24 billion in October.
Multi-asset funds recorded stronger net outflows (€8 billion, compared to €5 billion in October).
UCITS money market funds experienced net outflows of EUR 13 billion, compared to net inflows of EUR 33 billion in October.
AIFs recorded net inflows of €2 billion, down from €9 billion in October.
Total net assets of UCITS and AIFs decreased by 0.3 percent to €15.7 billion.
Bernard Delbecque, senior director for economics and research, EFAMA, commented: “Long-term UCITS continued to suffer from negative net sales in November, although less markedly than in October, in part thanks to a rebound in net sales of equity funds.”
This development was mainly due to a turnaround in net sales of money market funds in both the UCITS and AIF markets.
UCITS recorded net outflows of €40 billion, compared to net outflows of €8 billion in October.
Long-term UCITS (UCITS excluding money market funds) continued to suffer from net outflows, albeit at a lower level (€27 billion, compared to €41 billion in October).
Net sales of equity funds rebounded to a positive level (€3 billion, compared to net outflows of €2 billion in October.
Net outflows from bond funds slowed down to €17 billion, from €24 billion in October.
Multi-asset funds recorded stronger net outflows (€8 billion, compared to €5 billion in October).
UCITS money market funds experienced net outflows of EUR 13 billion, compared to net inflows of EUR 33 billion in October.
AIFs recorded net inflows of €2 billion, down from €9 billion in October.
Total net assets of UCITS and AIFs decreased by 0.3 percent to €15.7 billion.
Bernard Delbecque, senior director for economics and research, EFAMA, commented: “Long-term UCITS continued to suffer from negative net sales in November, although less markedly than in October, in part thanks to a rebound in net sales of equity funds.”
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