Outflows from equity funds slowed in July despite a decline in stock prices, with €1 billion leaving compared to €3 billion in June.
Investor cautions saw bond funds experience a jump in net inflows to €6 billion from a breakeven point in June.
The figures come from 23 industry bodies that belong to the European Fund and Asset Management Association (Efama).
Ucits funds registered net outflows of €14 billion compared to net outflows of €29 billion in June. Efama said the reduction in the level of net outflows was on account of reduced net outflows from money market funds and an increase in the net sales of bond funds.
“Long-term” Ucits (which excludes money market funds) saw an increase in net inflows to €11 billion, up from €7 billion in June.
“Special funds” (funds reserved to institutional investors) saw net inflows remain steady in July attracting inflows of €6 billion. However, real estate funds registered a drop in net inflows from €3 billion in June to breakeven point in July.
Total assets of Ucits amounted to €5,780 billion at end July 2011, an increase of 0.1% since end June.
©2011 funds europe
