According to the latest Investment Funds Industry Fact Sheet from the European Fund and Asset Management Association (EFAMA), which provides net sales of UCITS and non-UCITS, during September 2015, total net assets of the European investment fund industry decreased by 2.3% percent to stand at 12,109 billion euros.
With information from 27 associations representing more than 99 percent of total UCITS and AIF assets, the main developments that month can be summarized as follows:
- UCITS net sales decreased to 1 billion euros, down from net inflows of 9 billion euros in August. The decrease can be attributed to net outflows from money market funds.
- Long-term UCITS (UCITS excluding money market funds) experienced a rebound in net sales of 12 billion euros, compared to net outflows of EUR 3 billion in August.
- Equity funds enjoyed a turnaround with net sales of EUR 3 billion, up from net outflows of EUR 3 billion in August.
- Net outflows from bond funds amounted to EUR 1 billion, compared to net outflows of EUR 12 billion in August.
- Net sales of multi-asset funds remained steady with inflows of EUR 8 billion in both August and September.
- UCITS money market funds recorded net outflows of EUR 11 billion, compared to net inflows of EUR 12 billion in August. This reflected usual end-of-quarter redemptions.
- Total AIF net sales saw net outflows of EUR 6 billion, down from inflows of EUR 6 billion in August.
Net assets of UCITS stood at EUR 7,815 billion at end September 2015, representing a decrease of 2.2% during the month, while net assets of AIF decreased by 2.5% to stand at EUR 4,294 billion at month end.
Bernard Delbecque, Director for Economics and Research at EFAMA commented: “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.”