The fall in fund sales in September was across mainstream and alternative investments, latest industry figures show.
The European Fund and Asset Management Association (Efama) said net sales of Ucits and alternative investment funds (AIFs) totalled €57 billion, down from €94 billion in August.
Last week, Morningstar said funds with hedge fund-type strategies led a rebound in sales during October after a “brief slump” in August and September.
According to the Efama figures, Ucits funds registered net sales of €40 billion in September, down from €69 billion in August.
However, excluding money market funds, the figure rose from €44 billion to €53 billion.
A particular rise was seen in equity fund sales – €16 billion in September, up from €5 billion in August.
Bernard Delbecque, senior director for economics and research at Efama, said: ‘Net sales of equity funds rebounded strongly in September, reflecting healthy economic data and investors’ decreasing concerns about geopolitical risks.”
AIFs saw net sales of €16 billion in September, down from the August figure of €25 billion.
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