UCITS and AIFs registered net inflows of EUR6 billion in October, compared to net outflows of EUR22 billion in September, according to the latest Investment Fund Industry Fact Sheet from the European Fund and Asset Management Association (EFAMA).
UCITS recorded net outflows of EUR3 billion, compared to outflows of EUR31 billion in September, with long-term UCITS (UCITS excluding money market funds) recording net outflows of EUR36 billion, compared to net outflows of EUR11 billion in September.
Equity funds registered net inflows of EUR0.4 billion, compared to EUR4 billion in September, while bond funds suffered an increase in net outflows to EUR23 billion, compared to EUR10 billion in September, and multi-asset funds also recorded an increase in net outflows to EUR5 billion, compared to EUR1 billion in September.
UCITS money market funds registered net inflows of EUR33 billion, compared to net outflows of EUR21 billion in September. Net sales of AIFs recorded the same level of net inflows as in September (EUR9 billion). Total net assets of UCITS and AIFs decreased by 2.5 per cent to EUR15,698 billion, compared to EUR16,102 billion at end September.
Bernard Delbecque (pictured), Senior Director for Economics and Research, says: “Investor concerns about rising interest rates and political and economic uncertainty continued to weigh on the demand for long-term UCITS in October, boosting demand for money market funds.”