Global investment fund assets increased 6.2% during the third quarter of 2009 to reach €15.3trn by the end of September, marking the fourth consecutive quarter of positive net flows according to the Efama.
According to statistics provided to the European Fund and Asset Management Association and the Investment Company Institute from 45 countries, net inflows into all funds were €73bn in the third quarter.
The statistics also show a rise of 12.4% in the total assets under management during the period running from January to September 2009, with total net inflows reaching €203bn over the same period, compared to net inflows of €236bn in 2008.
Net inflows into long-term funds (all funds excluding money market funds) were €271bn in the third quarter, up from €240bn in the second quarter, with equity, bond and balanced funds accounting for €47bn, €153bn and €46bn over the quarter respectively.
In contrast to long term funds, money market funds continued to experience net outflows, with €198bn of outflows in the third quarter, up from a €156bn outflow in the previous quarter. Overall, €305bn flowed out of money market funds in January to September 2009, compared to a cumulative inflow of €637bn in 2008.
At the end of September 2009, assets of equity funds represented 38% of all investment fund assets worldwide. The asset share of bond funds was 19% and the asset share of money market funds was 25%. Balanced fund assets represented 10% of the worldwide total.
