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EFAMA investment fund industry fact sheet: net outflows for UCITS funds recorded in June 2018, due to challenging market and political environment

29-08-2018

 

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28 associations representing 98 percent of total UCITS and AIF assets provided EFAMA, the European Association of Fund and Asset Managers, with net sales data.

 

The main developments in June 2018 can be summarized as follows: 

 

  • Net sales of UCITS and AIFs remained in negative territory in June, with net outflows reaching EUR 22 billion, compared to EUR 2 billion in May.  

 

  • UCITS recorded net outflows of EUR 25 billion, compared to outflows of EUR 9 billion in May.   

 

o   Long-term UCITS (UCITS excluding money market funds) recorded net outflows of EUR 4 billion, a level similar to that observed in May (EUR 3 billion).

 

  • Equity funds registered negative net sales amounting to EUR 3 billion in June, compared to EUR 4 billion in May.  
  • Bond funds sales also remained negative, with net outflows of EUR 6 billion, compared to EUR 8 billion in May. 
  • Multi-asset funds continued to record net inflows in June: EUR 7 billion, compared to 9 billion in May. 

 

    • UCITS money market funds experienced an increase in net outflows from EUR 6 billion to EUR 21 billion, reflecting the cycle of net withdrawals observed in general at the end of each quarter.

 

  • Net sales of AIFs recorded net inflows of EUR 3 billion, down from EUR 8 billion in May. 

 

  • Total net assets of UCITS and AIFs fell by 1.1% in June to EUR 15,854 billion, compared to EUR 16,037 billion at end May.

 

Despite the downturn in net sales observed in May and June, UCITS saw net inflows of EUR 186 billion in the first six months of 2018.  Still, this level is significantly lower than what was observed during the first half of 2017 (EUR 376 billion).  Two main reasons can explain this outcome: firstly, 2017 was truly an outstanding year in terms of net sales of UCITS, and secondly, the challenging market and political environment that has developed in recent months has undermined investor confidence.      

 

Source: EFAMA

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