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UCITS enjoyed largest quarterly net inflows since 2006 in Q1 2013

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UCITS enjoyed a surge in demand in the first quarter of 2013 to EUR130bn, marking the largest quarterly net inflows since the first quarter of 2006, according to data released by the European Fund and Asset Management Association (EFAMA).

 
This compares with net sales of EUR78bn in the previous quarter. Ten countries attracted net inflows in excess of EUR1bn. 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 UCITS net assets rose 5.5 per cent during the first quarter to stand at EUR6,641bn at end March 2013.
 
Equity funds registered an increase of 8.8 per cent.
 
Balanced funds also enjoyed strong growth of 6.0 per cent, while bond funds saw growth of 4.5 per cent.
 
Net assets of money market funds remained flat during the quarter.
 
Long-term UCITS, i.e. UCITS excluding money market funds, experienced net inflows of EUR132bn during the quarter, up from EUR106bn in the previous quarter.
 
Net sales of equity funds increased to EUR44bn, from EUR30bn in the fourth quarter of 2012.
 
Bond funds continued to attract strong net inflows of EUR44bn, albeit down from EUR61bn in the previous quarter.
 
Net sales of balanced funds surged during the quarter to register net inflows of EUR36bn, compared to EUR13bn in the fourth quarter of 2012.
 
Net outflows from money market funds fell during the quarter to EUR2bn, compared to EUR28bn in the previous quarter.
 
Total net assets of non-UCITS increased by 3.9 per cent in the first quarter to stand at EUR2,751bn 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 (EUR43bn, compared to EUR44bn 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 EUR9trn mark to stand at EUR9,393bn at end March 2013.

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