Equities were the main driver of flows into Ucits funds in the third quarter, while bond funds saw their first quarterly net outflow since 2011.
Equity funds added a net €30 billion, spelling an increase in assets for the sector of 7.8%.
Net flows for all Ucits funds reached €34 billion, up from €12 billion in the previous quarter.
Uncertainty about bond market developments during the quarter penalised bond funds – which saw a net outflow of €12 billion – whereas equity funds benefitted from improved investor confidence, says the European Fund and Asset Management Association (EFAMA), which publishes the data.
“Long-term” Ucits funds – which excludes money market funds – registered net inflows of €43 billion in the third quarter, compared to €65 billion in the previous quarter. Money market funds saw decreased net outflows of €9 billion.
Net inflows to balanced funds continued to attract “strong” net inflows – €20 billion – albeit down from €28 billion in the second quarter.
Total net assets of Ucits increased by 3% during the third quarter to stand at €6.7 trillion at end September 2013.
Total net assets of non-Ucits funds increased by 3.5% in the third quarter to stand at €2.8 trillion at end September 2013.
©2013 funds europe
