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Net sales of Ucits funds jump 31bn in January

By International Adviser, 27 Jun 11

The net sales of Ucits funds in Europe made a huge turnaround early this year.

The net sales of Ucits funds in Europe made a huge turnaround early this year.

According to data supplied to the European Fund and Asset Management Association from 23 associations representing 97% of all Ucits and non-Ucits funds in Europe, net sales of Ucits funds reached €12bn in January, a €31bn increase from the €19bn outflows seen in December last year.

This increase was most felt by long term Ucits funds (excluding money market funds) which enjoyed net sales of €23bn during January, and equity funds which took net sales of €9bn during the month.

Bond funds also bounced back into positive territory in January with net sales of €2bn, a significant increase from the €7bn net outflows endured in January, while balanced funds notched up net sales of €4bn.

Money market funds meanwhile, often seen as a safe haven in times of trouble, reduced net outflows from €37bn in December to €11bn in January, reflecting a significant switch in investor sentiment.

Meanwhile, non-Ucits funds recorded total net inflows of €13bn in January, a huge drop from the €30bn December inflows.  EFAMA said this decrease reflected a lower level of net inflows into special funds reserved for institutional investors which fell by €18bn from €30bn in December to 12bn In January.
 

Tags: EFAMA

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser.