Net sales of Ucits funds and Alternative Investment Funds (AIFs) increased in July to €124 billion, up from €108 billion in June.
Figures published by the pan-European umbrella group for the funds industry Efama show that sales of Ucits funds led the growth with recorded net inflows of €109 billion, compared to €100 billion in June.
Long-term Ucits funds (excluding money market funds) recorded net inflows of €50 billion, slightly down from €52 billion in June.
Meanwhile, net sales of equity funds amounted to €13 billion, down from €17 billion in June.
Bernard Delbecque, Efama’s senior director for economics and research, said: “Solid net inflows into long-term Ucits indicate overall investors’ confidence about the investment outlook in July, despite the risks posed by the Covid-19 crisis.
“At the same time, sustained net inflows into money market funds confirm that a certain degree of caution prevailed among investors.”
©2020 funds europe
