The European Fund and Asset Management Association said the surge resulted in January being the best month for net sales of what it refers to as “long-term Ucits” – by which it means Ucits funds that are not money market funds – since it began collecting data on them more than four years ago. Sales of these funds leapt 51% to €53bn in January, from €35bn in December.
The growth in total Ucits sales during the month was even more pronounced, leaping to €49bn from €1bn from the end of December, as investors stormed out of money market funds and into long-term Ucits, EFAMA reported today.
Bernard Delbecque, director of Economics and Research at the association, said a “perceived reduction in global stock market uncertainty, supported by stronger financial market confidence” had boosted investor sentiment in January, “leading to the best month for net sales of long-term Ucits since EFAMA began collecting monthly data in October 2008”.
As reported, Lipper reported a similar stampede into funds yesterday, as its data showed “long-term funds” in January attracted their highest monthly inflows in seven years.
Total Ucits AUM
The total amount of money held in Ucits funds at the end of January stood at €6.395trn, which EFAMA said represented a 0.7% increase over the month. Assets under management in non-Ucits funds grew by 0.3% to €2.557trn during the period.
EFAMA collects the data on Ucits funds from 26 European asset management associations, which it says represent more than 99.6% of total Ucits and non-Ucits assets held in Europe during the time periods given.
To see and download the latest EFAMA data, click here.
