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Sales of UCITS remain high in March due to continued investor confidence

UCITS attracted net inflows in March of EUR38bn, down from EUR44bn in February, according to the European Fund and Asset Management Association’s (EFAMA) latest investment Fund Industry Fact Sheet.

This modest reduction is as a result of a turnaround in net flows of money market funds.  
 
Net sales of long-term UCITS (UCITS excluding money market funds) registered a second consecutive month at EUR41bn.
 
Bond funds recorded net sales of EUR15bn, up from EUR13bn in February.
 
Net sales of equity funds reduced to EUR9bn, compared to EUR14bn in February.
 
Balanced fund net sales increased in March to EUR13bn, up from EUR11bn a month earlier.
 
Money market funds experienced a turnaround in net sales in March to register net outflows of EUR2bn, compared to net inflows of EUR4bn recorded in February.
 
Total non-UCITS recorded net sales of EUR18bn, up from EUR12bn in February. Special funds (funds reserved to institutional investors) recorded increased net inflows of EUR15bn, up from EUR9bn in the previous month.
 
Total assets of UCITS stood at EUR6,697bn at end March 2013, representing a 2.3 per cent increase during the month.  Total assets of non-UCITS enjoyed an increase of 1.9 per cent to stand at EUR2,644bn at month end. Overall, total net assets of the European investment fund industry stood at EUR9,341bn at end March 2013.
 
Peter de Proft, director general of EFAMA, says: “Despite renewed uncertainties caused by the bail-out package for Cyprus, total net sales of UCITS and non-UCITS remained in March at the same high level as in February, highlighting investor confidence about investment prospects.”

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