November 2024 saw a record-breaking month for ETF equity Ucits, driven by optimism surrounding anticipated tax cuts and deregulation measures aimed at boosting US economic growth, according to the European Funds and Asset Management Association ( Efama).
Net inflows across Ucits and alternative investment funds (AIFs) surged to €96 billion, up from €63 billion in October, according to the latest monthly statistical release for November 2024 from Efama, the voice of the European asset management industry.
ETF equity Ucits stood out with €31 billion in net inflows, an increase from €28 billion in October.
Bernard Delbecque, senior director for economics and research at Efama, said: “ETF equity Ucits experienced record net sales in November, fueled by market optimism surrounding anticipated tax cuts and deregulation measures from the Trump administration to stimulate US economic growth. These inflows primarily favoured US-focused and global ETF equity Ucits, which predominantly invest in US company stocks.”
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Equity Ucits inflows reached €20 billion, more than doubling October’s €9 billion, while bond Ucits saw a decline, recording €17 billion in inflows compared to €34 billion the previous month. Multi-asset Ucits reversed their position, registering €5 billion in net outflows, a notable shift from October’s slight inflows.
Money market Ucits saw a dramatic increase, attracting €49 billion in net inflows compared to just €9 billion in October. This rise contributed significantly to the overall growth in Ucits net inflows, which reached €82 billion, up from €54 billion in October. Alternative investment funds also saw improvement, recording €13 billion in inflows, up from €9 billion.
Total net assets of Ucits and AIFs rose by 3.2% during November, reaching €23,470 billion. The overall market optimism is reflected in these figures, particularly the strong performance of ETF equity Ucits, which benefited from a focus on US and global equities, according to Efama.
Delbecque added, “This data underscores the need for targeted financing strategies to enhance the competitiveness of EU companies and address critical transitions in climate and digital technologies.”
Efama’s fact sheet is published monthly and presents net sales and net assets data for Ucits and alternative investment funds for 29 European countries: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and the UK.
