Assets under management in Ucits-regulated funds are now higher than at the end of 2015 after “strong growth” in the third quarter (Q3), latest industry figures show.
France, the UK, and Italy were among the markets with the most success, as Ucits assets across Europe climbed to €8,345 billion compared to just over €8,200 billion at the end of last year.
Bond and money market fund sales drove flows, and equity fund sales rebounded from outflows in Q2.
Long-term Ucits – which excludes money market funds – posted net inflows of €84 billion, up from €44 billion in the previous quarter, according to the European Fund and Asset Management Association (Efama).
Countries with the strongest sales in Q3 outside of the cross-border fund centres of Ireland and Luxembourg were:
- France €15,200 million
- Italy €3,625 million
- UK €3,395 million
- Spain €2,870 million
- Germany €2,728 million
- Denmark €2,521 million
- Norway €1,515 million
The Netherlands saw the biggest drop, of €1,804 million.
Coupled with money market fund net sales of €45 billion, total Ucits funds reached €129 billion of sales, up from €71 billion in Q2.
Equity fund net outflows of €18 billion in Q2, became inflows of €1 billion in Q3, while bond fund sales increased from €42 billion, to €63 billion.
Multi-asset fund sales slightly decreased from €14 billion to €13 billion.
Regulated alternative investment funds – of ‘AIFs’ achieved net sales of €41 billion, down from €56 billion in the previous quarter.
The sales figures for Ucits funds and AIFs mean total European investment fund net assets increased 3.1% over the quarter to €13,702 billion.
Bernard Delbecque, senior director for economics and research at Efama said: “Net sales of Ucits continued to rise during the summer months, with bond and money market funds attracting the bulk of new investment.”
©2016 funds europe
