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Long-term Ucits continued to enjoy net inflows in September


Close to zero net sales of equity funds and decreased demand for bond and mixed funds indicate that investors finished the summer in a very cautious way, waiting for greater certainty about the global economic outlook. 

For the first nine months of 2010, Ucits and non-Ucits enjoyed net inflows of EUR164bn compared with EUR149bn during the same period in 2009, according to the European Fund and Asset Management Association.
Ucits experienced a turnaround in flows in September to record an outflow of EUR11bn, down from net inflows of EUR54bn experienced in August. The large swing was due mainly to large outflows from money market funds; however long-term Ucits continued to enjoy net inflows, albeit at lower levels than experienced in August.
Long-term Ucits recorded new inflows of EUR10bn in September, compared to EUR38bn in August. Bond funds contributed to the bulk of these inflows with net sales of EUR6bn in September, falling from EUR23bn in August. Balanced funds also recorded net inflows of EUR3bn in September. Investor demand remained weak for equity funds in September.
Net flows to money market funds moved back into negative territory in September to reach EUR21bn in outflows, reflecting in particular end-of-quarter withdrawals.
Special funds reserved to institutional investors remained static with inflows of EUR10bn in September, slightly down from the EUR11bn experienced in August.
Total assets of Ucits and non-Ucits funds marginally increased with Ucits assets amounting to EUR5,668bn and non-Ucits standing at EUR1,849bn at end September.

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