EFAMA has published its latest Quarterly Statistical Release which describes the trends in the European investment fund industry during the second quarter of 2013.
The main highlights of the report can be summarised as follows:
UCITS recorded net inflows of €12 billion in the second quarter of 2013, down from the record net inflows of €132 billion recorded in the first quarter of the year. This drop can be attributable to a large increase in net outflows from money market funds and a reduction in net inflows into long-term funds, as investors’ expectations of increased interest rates rise.
Long-term UCITS, i.e. UCITS excluding money market funds, continued to register strong net inflows (€65 billion), albeit down from €134 billion in the previous quarter.
Equity funds experienced a turnaround in net flows to register outflows of €8 billion, compared to net inflows in the first quarter of €44 billion.
Bond funds attracted net inflows of €30 billion during the quarter, down from €44 billion.
Balanced funds registered another quarter of strong net sales (€28 billion), albeit down from €36 billion in previous quarter.
Money market funds recorded a large rise in net outflows to €53 billion in the second quarter, up from €2 billion recorded in the previous quarter.
Combined assets of UCITS and non-UCITS decreased 1.7 per cent in the second quarter to stand at €9,232 billion at end June 2013. Nevertheless, since end 2012 total net assets of UCITS and non-UCITS have increased 3.2 per cent. Net assets of UCITS stood at €6,488 billion, whilst non-UCITS net assets amounted to €2,744 billion.
Overall in the first half of 2013, UCITS recorded net inflows of €144 billion, driven by net sales of bond funds (€74 billion), balanced funds (€64 billion) and equity funds (€36 billion). This marks a significant increase to the first half of 2012 when net inflows totaled €98 billion.
© EFAMA - European Fund and Asset Management Association
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