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Net sales of European investment funds positive in February despite stock markets sell off

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The European Fund and Asset Management Association (EFAMA) has today published its latest Investment Funds Industry Fact Sheet, which provides net sales of and non-UCITS for February 2016.  

The fact sheet reveals that net outflows from UCITS slowed to EUR0.4 billion, compared to outflows of EUR15 billion in January, while long-term UCITS (UCITS excluding money market funds) also registered a slowdown in net outflows, decreasing from outflows of EUR14 billion in January to outflows of EUR9 billion in February.

Equity funds registered net outflows of EUR4 billion, down from net inflows of EUR3 billion in February, and net outflows from bond funds also slowed from EUR15 billion in January to outflows of EUR6 billion in February.

Multi-asset funds finished the quarter with net sales of EUR1 billion, up from net outflows of EUR2 billion in January, while UCITS money market funds also experienced a reversal in flows, increasing from net outflows of EUR1 billion in January to net inflows of EUR9 billion in February. 

Total AIF registered net inflows of EUR8.9 billion in February, down from EUR15.6 billion in January. Net assets of UCITS and AIF meanwhile ended the month at EUR12,926 billion, representing a decrease of 0.2 per cent in net assets since January.

]UCITS net assets decreased 0.4 per cent to EUR7,891 billion since end January, while ]AIF net assets increased 0.1 per cent to EUR5,035 since end February.
 
Bernard Delbecque (pictured), Senior Director, Economics and Research at EFAMA commented: “The stock market sell-off in early 2016 caused UCITS equity funds to suffer net outflows of EUR4 billion in February, or 0.14 per cent of total UCITS equity fund assets.  Taken together, UCITS and AIF recorded positive net sales of EUR8 billion in February.  This confirms that many investors are willing to hold to their investment positions in periods of market stress.” 

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