European bond fund sales dived amid February market turmoil, according to data from the European Fund and Asset Management Association (Efama).
Net sales of bond funds were €4 billion, down from €20 billion in January.
The data from 28 associations representing 98 percent of total Ucits and alternative investment funds also showed that net sales of equity funds totalled €25 billion, down from €48 billion in January.
Net sales of Ucits and alternative investment funds were €25 billion, down from €142 billion in January, while Ucits funds alone registered net sales of €11 billion, down from €126 billion in January.
Long-term Ucits funds posted net sales of €47 billion, up from €88 billion in January 2018.
Net sales of multi-asset funds totalled €16 billion, down from €17 billion in January.
Ucits money market funds recorded net outflows of €35 billion, compared to net inflows of €38 billion in January.
Alternative investment funds recorded net sales of €13 billion, down from €16 billion in January.
Bernard Delbecque, director of economics and research at Efama, said: “The turmoil on the markets in February had a strong impact on Ucits bond funds, which saw their net sales falling sharply, whereas investor demand for Ucits equity funds remained relatively strong.”
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