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Sustained demand for ETFs in September: EFAMA

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The European Fund and Asset Management Association (EFAMA) has published its latest monthly Investment Fund Industry Fact Sheet, which provides net sales data on UCITS and AIFs for September 2023, at European level and by country of fund domiciliation.

Bernard Delbecque, Senior Director for Economics and Research at EFAMA, comments: “The trend toward ETFs continued in September despite investors’ concerns about the global economic outlook, which adversely affected the demand for equity and multi-asset UCITS.”

The main developments in September 2023 can be summarised as follows: 

·        UCITS and AIFs recorded net outflows of EUR13 billion, compared to net inflows of EUR22 billion in August.

·        UCITS reported net outflows of EUR11 billion, compared to net inflows of EUR20 billion in August.

o   Long-term UCITS (UCITS excluding money market funds) experienced net outflows of EUR15 billion, compared to net outflows of EUR4 billion in August.

–       Equity funds recorded net outflows of EUR5 billion, compared to net outflows of EUR2 billion in August.

–       Bond funds registered net inflows of EUR3 billion, up from EUR2 billion in August.

–       Multi-asset funds recorded net outflows of EUR12 billion, compared to net outflows of EUR5 billion in August.

o   UCITS money market funds recorded net inflows of EUR4 billion, down from EUR24 billion in August.

·        AIFs registered net outflows of EUR2 billion, compared to net inflows of EUR2 billion in August.

·        Total net assets of UCITS and AIFs decreased by 1.1 per cent in September, reaching EUR19,762 billion.

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