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UCITS net inflows increase to EUR34bn in Q3

UCITS recorded increased net inflows of EUR34bn in the third quarter of 2013, up from EUR12bn in the second quarter of the year, according to the European Fund and Asset Management Association (EFAMA).

This increase in net sales can be attributed to the upturn in net sales of equity funds and decreased net outflows from money market funds. Uncertainty about bond market developments during the quarter penalised bond funds, whereas equity funds benefitted from improved investor confidence.
 
Long-term UCITS, i.e. UCITS excluding money market funds, registered net inflows of EUR43bn in the third quarter, compared to EUR65bn in the previous quarter. 
 
Bond funds registered quarterly net outflows for the first time since 2011 amounting to EUR12bn.
 
Net sales of equity funds returned to positive territory with inflows of EUR30bn, compared to net outflows of EUR9bn in the second quarter. 
 
Net inflows to balanced funds continued to attract strong net inflows (EUR20bn), albeit down from EUR28bn in the second quarter.
 
Money market funds recorded reduced net outflows of EUR9bn in the third quarter, down from EUR53bn recorded in the second quarter.
 
Total net assets of UCITS increased by 3.0 per cent during the third quarter to stand at EUR6,690bn at end September 2013.  Net assets of equity funds experienced the highest asset increase (7.8 per cent).  Bond funds experienced an increase in net assets of 1.0 per cent, whereas money market funds bucked the trend to record a decrease in net assets of 1.0 per cent during the quarter.
 
Total net assets of non-UCITS increased by 3.5 per cent in the third quarter to stand at EUR2,841bn at end September 2013.  Assets of special funds reserved to institutional investors grew by 3.8 per cent during the quarter, thanks to continued net inflows (EUR40bn, compared to EUR29bn during the second quarter).
 
The combined assets of UCITS and non-UCITS increased 3.2 per cent in the third quarter to stand at EUR9,531bn at end September 2013.

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