Overall, Ucits recorded net outflows of €15bn in September, compared to net inflows of €15bn in August. The association attributed this turnaround in net sales to “the large net outflows from money market funds”.
Elsewhere, net sales of equity funds rose to €14bn from €2bn a month earlier, while bond funds registered net outflows of €9bn, up from €7bn in August.
Net sales of balanced funds increased to €5bn from €3bn in August.
Money market funds registered net outflows in September of €24bn, compared to net inflows in August of €15bn, a swing in net flows that can be partially explained by the “cyclical quarterly withdrawal from money market funds”, said EFAMA.
Total non-Ucits vehicles recorded a rise in net sales to €17bn, up from €9bn in August. According to EFAMA, this increase in net sales can be attributed to flows into special funds (those reserved for institutional investors) which registered net inflows of €16bn, compared to €5bn in August.
Total net assets of Ucits stood at €6,753bn at end September 2013, representing a 1.6% increase during the month.
Bernard Delbecque, director of economics and research at EFAMA, said: “In September, equity funds benefitted from improved investor sentiment amid stronger expectations of continued liquidity support from the Federal Reserve as well as receding tensions in Syria, while bond funds suffered from persistent uncertainty about bond market developments.”
EFAMA publish the data on a monthly basis and it represents net fund product sales data and/or net assets data for Ucits and non-Ucits assets provided by 26 national associations.
Other findings:
- Total net assets of non-Ucits increased in September by 1.5% to stand at €2,718 bn at month end.
- Total net assets of the European investment fund industry at end September amounted to €9,471bn.
- Total net assets of Ucits stood at €6,753bn at end September 2013, representing a 1.6 % increase during the month.
