Net sales of Ucits and alternative investment funds ( AIF) increased from €1 billion in October 2023 to €64 billion in November 2023, according to the European Fund and Asset Management Association (Efama).
The momentum continued as Ucits recorded net inflows of €57 billion, a rise from the €2 billion observed in the previous month, the data showed. Notably, long-term Ucits, excluding money market funds, experienced a turnaround with net inflows of €9 billion, rebounding from net outflows of €34 billion in October.
Equity funds also contributed to the positive trend, posting net inflows of €8 billion, in contrast to the net outflows of €13 billion reported in October. Bond funds demonstrated a noteworthy recovery, with net sales rebounding to €19 billion after experiencing net outflows of €4 billion in the previous month. Multi-asset funds, however, maintained a consistent trend, recording net outflows of €16 billion, mirroring the figures from October.
Ucits money market funds (MMFs) showed resilience, attracting net inflows of €48 billion, marking an increase from the €37 billion recorded in October. AIFs also experienced a positive shift, registering net inflows of €7 billion, a notable improvement from the net outflows of €1 billion in October.
The cumulative impact of these developments led to a 3.5% increase in the total net assets of Ucits and AIFs in November, reaching a substantial €20,080 billion.
Bernard Delbecque, senior director for economics and research at Efama, commented: “We saw net sales of Ucits equity and bond funds recovering substantially in November. This was on the back of good news about inflation and the expectation that interest rates will not be raised further.”
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