A turnaround in net inflows into European equities and money market funds meant sales in March itself were down slightly on the two previous months but net assets were still up 2.5% for the month.
Net sales of UCITS slipped to €69 billion in March compared with net new money of €87bn in February and €83bn in January.
UCITS or Undertakings for Collective Investments in Transferable Securities are investment vehicles which can be sold across the European Union as long as the fund and fund managers are registered within one of the member countries.
Long-term UCITS net inflows, which exclude money market funds, registered their second consecutive month of growth in March, climbing by €71bn.
“Long-term UCITS continued to attract strong net inflows in March."
“Long-term UCITS continued to attract strong net inflows in March thanks to a leap in net sales of balanced funds, which continued to attract investors by providing broad market, asset class and sector diversification.” said EFAMA’s director of Economics and Research, Bernard Delbecque.
The EFAMA data was compiled from 27 associations representing more than 99.6 percent of total UCITS and non-UCITS assets at end March 2015.