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June long-term Ucits outflows less severe than May


Long-term Ucits experienced net outflows for the second month in a row in June, albeit significantly less severe than in May, according to the European Fund and Asset Management Association.

Outflows from long-term Ucits (Ucits excluding money market funds) totalled EUR0.2bn in June compared to EUR8bn in May. 

The main reason for this positive outcome was a sharp decline in the net outflows from equity funds, from EUR11bn in May to EUR2bn in June.

Ucits recorded net outflows of EUR31bn in June, compared to net outflows of EUR23bn in May. This development was spurred by a sharp rise in net withdrawals from money market funds from EUR14bn in May to EUR31bn in June, reflecting the normal trend of redemptions taking place at the end of each quarter.

The measures decided upon to strengthen the Euro area and help member countries in difficulty contributed to improved investor confidence in June, leading to a sharp reduction in outflows from long-term Ucits.

Bond funds also recorded net outflows in June of EUR3bn, compared to EUR2bn in May. Balanced funds continued to attract new money in June (EUR3bn), whilst special funds reserved to institutional investors jumped to record net inflows of EUR12bn in June.

The value of total assets in Ucits fell by 0.4 per cent in June compared to end May, whilst total non-Ucits rose 1.0 per cent.

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