UCITS experienced a sharp increase in net sales in July which totalled EUR63 billion, compared to net outflows of EUR 17 billion in June, according to the European Fund and Asset Management Association’s (EFAMA) latest Investment Funds Industry Fact Sheet.
This rebound can be attributed to a turnaround in net sales of money market funds and bond funds.
Long-term UCITS (UCITS excluding money market funds) registered net inflows of EUR39 billion, up from EUR18 billion in June.
Bond funds recorded net inflows of EUR4 billion, compared to net outflows of EUR7 billion in June.
Net sales of balanced funds increased to EUR 18 billion, compared to EUR15 billion in June.
Equity funds also enjoyed stronger net sales of EUR12 billion, up from EUR7 billion in June.
Money market funds recorded net inflows of EUR24 billion, compared to net outflows of EUR35 billion in June.
Total non-UCITS net sales amounted to EUR8 billion in July, down from EUR19 billion in June. Net sales of special funds (funds reserved to institutional investors) totaled EUR7 billion, compared to EUR17 billion.
Net assets of UCITS stood at EUR9,070 billion at end July 2015, representing an increase of 1.8 per cent during the month, whilst net assets of non-UCITS increased by 0.8 per cent to stand at EUR3,594 billion at month end. Overall, total net assets of the European investment fund industry rose by 1.5 per cent to stand at EUR12,663 billion at end July 2015.
Bernard Delbecque (pictured), Director for Economics and Research at EFAMA, says: “The rebound in net sales of long-term UCITS in July suggests that investor confidence strengthened at the beginning of the summer.”