Long-term UCITS see net inflows increase to EUR313bn in 2013
The European investment fund industry enjoyed a second consecutive year of strong growth in 2013, according to data released by the European Fund and Asset Management Association (EFAMA).
Net sales of UCITS and non-UCITS totalled EUR410bn in 2013, compared to EUR307bn in 2012.
Net fund assets represented 68 per cent of GDP at end 2013, up from 63 per cent at end 2012. This indicator highlights the significant role played by investment funds as financial vehicles raising capital from retail and institutional investors, and providing funding to many European corporations and government agencies
Investment fund assets in Europe increased by 8.9 per cent to EUR9,788bn. Overall, net assets of UCITS increased by 9.0 per cent to EUR6,866bn. Net assets of non-UCITS increased by 8.8 per cent to EUR2,922bn.
Net sales of UCITS reached EUR229bn. Demand for UCITS reached its highest level since 2006 and surpassed the net sales of EUR196bn registered in 2012.
Long-term UCITS enjoyed the second best year in the decade: long-term UCITS recorded net inflows of EUR313bn, compared to EUR233bn in 2012. Balanced funds attracted EUR114bn of net inflows, followed by equity funds (EUR99bn) and bond funds (EUR70bn).
Money market funds suffered from increased net outflows: money market funds recorded net outflows of EUR84bn, marking a significant increase compared to 2012 when net outflows amounted to EUR37bn. Low short-term interest rates remained a challenge for the money market funds industry in 2013.
Sales of non-UCITS reached EUR181bn. Net sales of non-UCITS increased in 2013, up from EUR114bn in 2012. Special funds (funds reserved to institutional investors) attracted EUR154bn in net new money in 2013, thanks to high institutional demand from insurance companies, pension funds and other institutional investors.
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