Improved investor sentiment contributed to sustained inflows into UCITS funds in February
All fund categories registered net inflows in February, according to the European Fund and Asset Management Association’s (EFAMA) latest Investment Fund Industry Fact Sheet.
UCITS continued to attract strong net inflows in February of EUR44bn, marking a slight reduction from the EUR49bn recorded in January.
Long-term UCITS (UCITS excluding money market funds) registered large net inflows amounting to EUR41bn, a modest decrease from January’s record net inflows of EUR53bn.
Net sales of equity funds registered EUR14bn, compared to EUR21bn in January, while bond funds also recorded reduced net sales of EUR13bn, down from EUR20bn in January, and balanced fund net sales remained flat in February at EUR11bn.
Money market funds experienced a turnaround in net sales in February to register net inflows of EUR4bn, compared to net outflows of EUR5bn recorded in January.
Total non-UCITS recorded net sales of EUR12bn, down from EUR17bn in January. Special funds (funds reserved to institutional investors) recorded reduced net inflows amounting to EUR9bn, compared to EUR15bn in the previous month.
Total assets of UCITS stood at EUR6,547bn at end February 2013, representing a 2.4 per cent increase since end January 2013. Total assets of non-UCITS enjoyed an increase of 1.5 per cent in January to stand at EUR2,595bn at month end. Overall, total net assets of the European investment fund industry stood at EUR9,142bn at end February 2013.
Bernard Delbecque, director of economics and research at EFAMA, says: “Improvements in financial markets continued to boost investor sentiment in February which contributed to strong net inflows into UCITS and pushed net assets of European investment funds above the EUR9trn mark for the first time.”
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