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European funds industry maintains momentum in Q1 2017 with strong sales


Net sales of UCITS and AIF reached EUR262 billion in Q1 2017, compared to EUR120 billion in Q4 2016, according to the latest Quarterly Statistical Release from the European Fund and Asset Management Association (EFAMA).

The sharp increase was driven by strong net sales of UCITS bond, money market and multi-asset funds.
UCITS registered net sales of EUR202 billion, compared EUR78 billion in Q4 2016. Long-term UCITS, meanwhile, ie UCITS excluding money market funds, recorded net sales of EUR152 billion, compared to EUR41 billion in Q4 2016. Bond funds enjoyed the largest net sales amongst the long-term categories, registering net sales of EUR75 billion compared to EUR15 billion in Q4 2016. Net sales of multi-asset funds recorded net sales of EUR38 billion, compared to EUR10 billion in Q4 2016. Equity funds recorded a net sales of EUR29 billion, compared to EUR13 billion in Q4 2016.
UCITS money market funds recorded net sales of EUR51 billion, compared to EUR37 billion in Q4 2016.
AIF net sales amounted to EUR60 billion in Q1 2017, compared to EUR42 billion in Q4 2016. The strong net sales of AIF are mainly due to a reversal in the net sales of bond funds flows (net inflows of EUR11 billion compared to net outflows of EUR2 billion in Q4 2016) and an increase in the demand for other AIF funds (EUR35 billion compared to EUR25 billion in Q4 2016). 
European investment fund net assets increased 4.6 per cent in Q1 2017 to EUR14,795 billion.  Net assets of UCITS increased 5.2 per cent in Q1 2017 to EUR9,112 billion, and total net assets of AIFs increased 3.7 per cent to EUR5,684 billion.
Bernard Delbecque (pictured), Senior director for Economics and Research and EFAMA, says: “The year 2017 began on a high note, with net sales of UCITS surpassing the EUR200 billion mark in the first quarter.”

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