In its latest investment funds industry factsheet, which gives a monthly overview of UCITS and non-UCITS fund sales based on data from 27 national associations from across the continent.
Long-term UCITS – those excluding money market funds – posted net inflows of €38.8bn, more than twice its June figure of €18.1bn.
Net sales of UCITS funds totalled €63bn (£45.8bn) compared with net outflows of €16.9bn in June.
EFAMA says the rebound can be attributed to a turnaround in net sales of money market and bond funds.
Bond funds picked up from net outflows of €6.6bn in June to a €4.2bn net inflow, while money market funds reversed significantly from a €35bn outflow to €24.2bn net positive flows.
Bernard Delbecque, director for economics and research at EFAMA says: “The rebound in net sales of long-term UCITS in July suggests that investor confidence strengthened at the beginning of the summer.”
Net sales of balanced funds increased to €17.8bn from €14.8bn the month prior while equity fund net sales also picked up, increasing from €7bn to €12bn over the month.
In terms of total non-UCITS net sales, there was a significant decline over the month, falling from €19bn to just €8bn.
