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Investor confidence starts recovery in September


UCITS net sales decreased to EUR1 billion, down from net inflows of EUR9 billion in August, according to the latest investment Funds Industry Fact Sheet from the European Fund and Asset Management Association (EFAMA).

The decrease can be attributed to net outflows from money market funds.
Long-term UCITS meanwhile, (UCITS excluding money market funds) experienced a rebound in net sales of EUR12 billion, compared to net outflows of EUR3 billion in August.  
Equity funds enjoyed a turnaround with net sales of EUR3 billion, up from net outflows of EUR3 billion in August. Net outflows from bond funds amounted to EUR1 billion, compared to net outflows of EUR12 billion in August. Net sales of multi-asset funds remained steady with inflows of EUR8 billion in both August and September.
UCITS money market funds recorded net outflows of EUR11 billion, compared to net inflows of EUR12 billion in August.  This reflected usual end-of-quarter redemptions. 
Total AIF net sales saw net outflows of EUR6 billion, down from inflows of EUR6 billion in August.
Net assets of UCITS stood at EUR7,815 billion at end September 2015, representing a decrease of 2.2 percent during the month, while net assets of AIF decreased by 2.5% to stand at EUR4,294 billion at month end.  Overall, total net assets of the European investment fund industry decreased by 2.3% percent to stand at EUR12,109 billion at end August 2015. 
Bernard Delbecque (pictured), Director for Economics and Research at EFAMA, says: “The rebound in net sales of long-term UCITS, even though modest, suggests that investor confidence began to strengthen again in September, after a few weeks of turbulence in the markets.”

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