Equity funds across Europe saw an upswing in net sales this past July, marking an end to several months of decline, as highlighted by the European Fund and Asset Management Association’s (Efama) latest monthly ‘Investment Fund Industry Fact Sheet’.
Efama’s data, which encapsulates net sales figures for undertakings for collective investment in transferable securities (Ucits) and alternative investment funds (AIFs) for July 2023, brought forth several developments.
Ucits and AIFs registered net inflows of €27 billion in July, in stark contrast to the net outflows of €8 billion noted in June. Specifically, Ucits alone reported net inflows to the tune of €19 billion, bouncing back from the net outflows of €15 billion observed the previous month.
Diving deeper, long-term Ucits (those excluding money market funds) posted net inflows of €8 billion. This marked a turnaround from the net outflows of €11 billion in June. Equity funds, too, reflected this positive sentiment, with net sales turning favourable at €3 billion, a recovery from net outflows of €7 billion in June.
On the other hand, bond funds also garnered traction, recording net inflows of €14 billion, nearly doubling from €7 billion in June. Multi-asset funds, however, persisted in their downward trend, suffering net outflows, though at a marginally reduced rate of €6 billion, a slight improvement.
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