August was a month of mixed results for the funds industry as Ucits sales dropped while alternative investment funds (AIFs) soared.
Figures from the European Fund and Asset Management Association (Efama) show that AIFs recorded net sales of €25 billion, up from the €13 billion in July.
But Ucits net sales of €69 billion were down from €83 billion in July.
Long-term Ucits – a category that excludes money market funds – recorded net sales of €44 billion, down from €61 billion in July. This was mainly due to net sales of equity funds, which totalled €5 billion, down from €19 billion in July.
Net sales of Ucits and AIF totalled €94 billion, slightly lower than €96 billion in July, but Bernard Delbecque, senior director for economics and research at Efama, said sales were still “close to historical peaks”.
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