Ucits fund sales declined by over €100 billion in the second quarter (Q2) of 2015, while sales of alternative investment funds (AIFs) increased.
Alternative investment funds were particularly successful during Q2, with net sales increasing by €30 billion from Q1 to reach €48 billion.
Though net sales of Ucits funds were higher overall for the quarter, at €114 billion, sales had fallen from €283 billion in Q1, says the European Fund and Asset Management Association (Efama).
At the end of June, net assets under management of Ucits funds had declined by 0.9% to €8,167 billion, whilst net assets managed by AIFs had declined by 0.8% to €4,455 billion.
The three main types of “long-term” Ucits funds – equity, bonds and multi-asset – each recorded lower net sales, says Efama. Multi-asset funds were the largest sellers at €72 billion, followed by bonds and equities.
Money market funds, which are not considered as long-term, saw outflows.
Despite the slowdown in Q2, Ucits net sales grew over the first half of 2015.
©2015 funds europe
