The European Fund and Asset Management Association (Efama) has released its statistical report for July 2024, highlighting strong net inflows across all Ucits categories, particularly bond Ucits.
According to the Efama, the voice of the European investment management industry, Ucits and alternative investment funds collectively attracted €77 billion in net inflows during the month, up from €75 billion in June, reflecting continued investor confidence in these fund vehicles.
Thomas Tilley, senior economist at Efama, said: “Bond Ucits continued to be the best-selling long-term funds category in July, as investors continued to anticipate future interest rate cuts.” This trend has driven strong demand across multiple categories of Ucits, with total net inflows for the month reaching €71 billion, a slight increase from €68 billion in June.
Equity Ucits sales reached three-year high in May: Efama
Long-term Ucits, excluding money market funds, recorded €40 billion in net inflows, down marginally from June’s €42 billion. Of these, ETF Ucits attracted €18 billion in net inflows, slightly down from €20 billion in June. Bond Ucits, however, continued to lead the charge, registering €28 billion in net inflows, up from €27 billion in the previous month. Equity Ucits saw EUR 9 billion in net inflows, although this represented a decrease from June’s €14 billion. Multi-asset Ucits returned to positive territory for the first time since February 2023, recording modest net inflows of €0.04 billion.
Money market Ucits saw an increase in demand, attracting €32 billion in net inflows, up from €26 billion in June. According to the analysts, this rise in inflows demonstrates investors’ continued interest in lower-risk, short-term investment vehicles amidst uncertain market conditions.In the alternative investment fund segment, net inflows were €6 billion, slightly down from €7 billion in June. Meanwhile, total net assets of Ucits and alternative investment funds grew by 1%, reaching €22.37 trillion.
