Outflows from long-term Ucits funds were significantly steeper in October.
Data from the European Fund and Asset Management Association (Efama) showed outflows from long-term funds – which excludes money market funds – were €36 billion, compared to €11 billion in the previous month.
Bond fund outflows increased, as did multi-asset outflows, though equity fund outflows slowed.
Overall net flows were rescued partly by alternative funds, which saw the same level of inflows as in September: €9 billion. This meant net flows for the industry were positive, at €6 billion – but it was money market funds that did most of the heavy lifting, with inflows of €33 billion as investors sought safety.
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