The latest monthly statistical release from the European Fund and Asset Management Association (Efama) covering November 2025 suggests demand for Ucits held up even as investors eyed caution.
Key highlights from the figures include:
- Ucits and AIFs recorded net inflows of €67bn, down from €89bn recorded in October 2025.
- Ucits recorded net inflows of €62bn, down from €84bn in the previous month.
- Long-term Ucits (Ucits excluding money market funds) saw net inflows of €48bn, down from €60bn in October. Of these, ETF Ucits attracted €24bn in net inflows, down from €41bn in the previous month.
- Equity funds registered net inflows of €8bn, down from €12bn in October 2025.
- Bond funds recorded net inflows of €25bn, down from €34bn in October 2025.
- Multi-asset funds recorded net inflows of €12bn, up from €9bn in October 2025.
- Long-term Ucits (Ucits excluding money market funds) saw net inflows of €48bn, down from €60bn in October. Of these, ETF Ucits attracted €24bn in net inflows, down from €41bn in the previous month.
- Ucits money market funds saw net inflows of €14bn, down from €23bn in October 2025.
- AIFs recorded net inflows of €4.5bn, slightly down from €5bn in October 2025.
- Total net assets of Ucits and AIFs increased by 0.3% to €25.2trn.
Ella Vacic, junior data analyst at Efama, commented on the November 2025 figures: “Despite a gentle slowdown in November, net inflows remained positive across all Ucits fund categories. Multi-asset funds outsold equity-only funds, but bond funds remained the largest beneficiary as investors maintain a cautious approach.”
The full graphical outline of the trends identified by Efama can be downloaded here.
