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Long-term UCITS register net inflows of EUR65bn in Q2 2013, says EFAMA

UCITS recorded net inflows of EUR12bn in the second quarter of 2013, down from the record of EUR132bn in Q1, according to the European Fund and Asset Management Association (EFAMA).

This drop can be attributable to a large increase in net outflows from money market funds and a reduction in net inflows into long-term funds, as investors’ expectations of increased interest rates rise.
 
Long-term UCITS, i.e. UCITS excluding money market funds, continued to register strong net inflows (EUR65bn), albeit down from EUR134bn in the previous quarter.  
 
Equity funds experienced a turnaround in net flows to register outflows of EUR8bn, compared to net inflows in the first quarter of EU44bn.  
 
Bond funds attracted net inflows of EUR30bn during the quarter, down from EUR 44 bn.  
 
Balanced funds registered another quarter of strong net sales (EUR28bn), albeit down from EUR36bn in previous quarter.
 
Money market funds recorded a large rise in net outflows to EUR53bn in the second quarter, up from EUR2bn recorded in the previous quarter.
 
Combined assets of UCITS and non-UCITS decreased 1.7 per cent in the second quarter to stand at EUR9,232bn at end June 2013. Nevertheless, since end 2012 total net assets of UCITS and non-UCITS have increased 3.2 per cent.  Net assets of UCITS stood at EUR6,488bn, whilst non-UCITS net assets amounted to EUR2,744bn.
 
Overall in the first half of 2013, UCITS recorded net inflows of EUR144bn, driven by net sales of bond funds (EUR74bn), balanced funds (EUR64bn) and equity funds (EUR36bn).  This marks a significant increase to the first half of 2012 when net inflows totalled EUR98bn.  

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