Several Dutch pension funds are behind a decline in net sales of alternative investment funds (AIFs) in 2021, according to the European Fund and Asset Management Association (Efama).
Efama’s latest investment fund industry fact sheet revealed net sales of AIFs fell to €68 billion in 2021, down from €177 billion in 2020.
The decline has come after several Dutch pension funds made the decision to stop managing their assets within AIF structures, instead favouring segregated mandates, causing substantial net outflows of €159 billion in Netherland-domiciled AIFs.
The broader figures for 2021 showed a record year for equity funds, as net sales reached €399 billion, the latest data from Efama showed. Bond funds also had a good year, with net sales of €177 billion, but this was far from the record net sales recorded in previous years, including €303 billion in 2019 and €314 billion in 2017.
Meanwhile, net sales of Ucits reached €799 billion, far higher than the €474 billion in 2020.
Bernard Delbecque, senior director for economics and research at Efama, said: “2021 was a record year for Ucits for two main reasons. First, high hopes on the Covid-19 vaccination campaign prevailed over the risks posed by the variants of the virus.
“Second, the strength of the economic recovery and the resulting strong performance of stock markets supported investor confidence.”
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