Net sales of UCITS remained positive in April totalling EUR 18 billion, albeit down from net inflows of EUR47 billion in March, according to figures released by the European Fund and Asset management Association (EFAMA).
A steep reduction in net sales of long-term UCITS (UCITS excluding money market funds) was the main trigger of the fall in net sales of UCITS during the month.
Net sales of long-term UCITS reduced in April to EUR 8 billion, compared to EUR 32 billion in March.
Bond funds recorded net inflows during the month of EUR 16 billion, down from EUR 26 billion in March.
Net sales of equity funds turned negative to net outflows of EUR 8 billion from net inflows of EUR 1 billion in March.
Balanced funds also witnessed net outflows during the month of EUR 3 billion, against net sales of EUR 4 billion in March.
Money Market funds continued to experience net inflows in April of EUR 10 billion, compared to EUR 15 billion in March. April marked the sixth straight month of net inflows into money market funds.
Total net sales of non-UCITS reduced in April to EUR 9 billion, compared to EUR 12 billion in March.
Net sales of special funds (funds reserved to institutional investors) halved in April to EUR 5 billion, down from EUR 10 billion in March.
Total assets of UCITS increased 0.5 per cent in April to stand at EUR 5,895 billion, whilst total assets of non-UCITS increased by 0.8 per cent to EUR 2,306 billion at month end. Total assets of UCITS and non-UCITS stood at EUR 8,201 billion at end April 2012.
Bernard Delbecque (pictured), Director of Economics and Research at EFAMA, says: “The decline in the net sales of UCITS in April reflected, among other factors, investors’ lingering concerns about the growth and fiscal issues in the Eurozone and the relating market risks and political uncertainty.”