The latest investment fund industry fact sheet from the European Fund and Asset Management Association reveals that while sales of Ucits and non-Ucits for the first nine months of 2010 (€164bn) topped sales for the equivalent period in 2009 (€149bn), net sales fell significantly in September.
Ucits funds were hit by €21bn in outflows from money market funds, versus €16bn in inflows in August, but sales also slowed significantly in long-term funds.
Net sales of equities stood at €100m in September versus €600m a month earlier, while bond sales slumped from €23.2bn to €5.7bn and balanced funds fell from €7.3bn in net sales in August to €3.2bn in September.
In total, net inflows in long-term Ucits stood at €10bn in September, down from €38bn in August, Efama said. Net assets rose by 0.3% on the month to €7.52bn.
