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Net sales of long-term UCITS up to EUR51bn in Feb, says EFAMA

UCITS enjoyed a second consecutive month of strong net inflows in February amounting to EUR49bn, albeit down from EUR69bn in January, according to figures released by the European Fund and Asset Management Association (EFAMA).

This drop in net inflows can be attributed to negative net flows out of money market funds during the month.
 
Long-term UCITS (UCITS excluding money market funds) attracted net inflows of EUR51bn, being the largest net inflows since January 2013, and up from EUR40bn in January 2014. 
 
Net sales of bond funds jumped during February to EUR24bn from EUR13bn in January.
 
Equity funds enjoyed increased net inflows of EUR12bn compared to EUR10bn in January. 
 
Balanced funds recorded net sales of EUR12bn, down from EUR15bn.
 
Money market funds experienced net outflows of EUR2bn in February, after registering large net inflows in January of EUR29bn.
 
Total non-UCITS recorded net sales of EUR11bn, down from EUR13bn in January.  Net inflows into special funds (funds reserved to institutional investors) remained constant at EUR9bn during the month.
 
Total assets of UCITS increased 2.4 per cent in February to EUR7,140bn. 
 
Total assets of non-UCITS rose 0.9 per cent in February to EUR2,849bn.
 
Overall, total assets of the investment fund industry increased 2.0 per cent to stand at EUR9,988bn at month end.
 
Bernard Delbecque, director of economics and research, says: “A strong demand for bond funds was the main driver behind the increased net sales of long-term funds in February, reflecting expectations of continued subdued inflation and low interest rates.”

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