17/09/2012
UCITS funds bounce back with inflows in July
In July, net inflows into UCITS totalled EUR 6 billion, compared to net outflows of EUR 33 billion in June, according to the European Fund and Asset Management Association (EFAMA). This reflected an increase in net sales of long-term UCITS, from net redemptions of EUR 9 billion in June to net inflows of EUR 25 billion: Net sales of bond funds jumped to EUR 23 billion during July, up from EUR 5 billion in June. Balanced funds registered net inflows of EUR 3 billion, against net outflows of EUR 3 billion in June, while equity funds recorded reduced net outflows of EUR 2 billion, compared to EUR 9 billion in June. Money market funds recorded net outflows in July for the second month in a row (EUR 18 billion, compared to EUR 24 billion in June). The lowering of the ECB’s deposit rate to zero on 5 July may have contributed to the continued net outflows. Total net sales of non-UCITS recorded a significant increase leap in July, to EUR 42 billion from EUR 11 billion in June. Total net assets of UCITS increased in July by 3.1 percent to EUR 6,183 billion, whilst non-UCITS net assets increased 2.4 percent in the month to stand at EUR 2,447 billion. In the second quarter of 2012, UCITS recorded net inflows of EUR 7 billion, down from net inflows of EUR 91 billion in the first quarter of the year. This drop was mainly attributable to a reduction in net inflows into long-term funds.
