Alternative funds in Europe more than doubled their net inflows in June, receiving €24 billion compared to €11 billion in May.
Every sub-category of the alternatives spectrum recorded the same or higher levels of net sales during the month, according to the European Fund and Asset Management Association (Efama).
Yet total alternative assets under management decreased in June, by 0.1% to €5.2 trillion. Ucits assets decreased 1.9% to €8.1 trillion.
The reason for the decrease was UK’s Brexit vote, with Efama’s figures revealing a €10 billion net outflow from Ucits funds during June.
Net assets in European investment funds decreased 1.2%, resting at €13.4 trillion at June 30.
Equity funds were the biggest losers, haemorrhaging €21 billion. In May this year, these vehicles attracted net inflows of €3 billion.
Bond funds fared much better, with €8 billion in net inflows, although this was almost half the €14 billion they attracted in May. Inflows to multi-asset funds more than halved, reaching €2 billion in comparison with €5 billion the previous month.
©2016 funds europe
