There was a strong rebound in global net sales of funds in the first quarter of 2023, according to industry figures.
Net sales of long-term funds shifted back into positive territory and worldwide long-term funds recorded net inflows of €132 billion, according to the European Fund and Asset Management (Efama) in the trade body’s International Quarterly Statistical Release.
Within this, Europe experienced the highest net inflows of €73 billion and net assets of worldwide investment funds increased by 3% in euro terms.
Bond funds recovered from 2022, with net inflows of €136 billion compared to net outflows of €121 billion in Q4 2022. The US and Europe accounted for the majority of net sales – €95 billion and €52 billion, respectively.
Global equity funds saw a turnaround with net inflows of €4 billion, compared to net outflows of €51 billion in Q4 2022.
Bernard Delbecque, senior director for economics and research, said: “Following one of their worst years in history, bond funds enjoyed a strong rebound in net sales and net assets in Q1 2023, as investors took advantage of the relatively high level of interest rates and bond yields, which significantly reduced the risk of further falls in bond prices.”
Efama also found in Q1 of 2023 that the global money market funds rose to a record not seen since Q1 2020.
The release comes just a week after Efama released its European Quarterly Statistical Release for the first quarter of 2023, which found an increase in net assets of Ucits and alternative investment funds in Q1.
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