The European Fund and Asset Management Association (EFAMA) has today (10 June) published its European Quarterly Statistical Release for Q1 of 2024.
Thomas Tilley, senior economist at EFAMA, said: “Investors flocked into bond funds in anticipation of interest rate cuts. Net sales of bond funds (UCITS and AIFs) reached EUR 95 billion for the quarter, marking the highest volume of inflows since Q2 2017.”
The main developments through the quarter were as follows:
• The net assets of UCITS and AIFs increased by 4.4% to €21.59 trillion.
• UCITS and AIFs attracted EUR 106 billion in net inflows in Q1 2024. Net sales of UCITS amounted to EUR 97 billion, while AIFs registered net inflows of EUR 9 billion.
• Long-term funds registered net inflows of EUR 85 billion. Bond funds attracted very strong net inflows (EUR 95 billion). Equity fund sales remained relatively muted (EUR 3 billion), whereas multi-asset funds continued to record net outflows (EUR 15 billion).
• Money market fund net sales slowed down (EUR 21 billion) compared to the previous quarter (EUR 121 billion).
• Net outflows from SFDR Article 9 funds continued, but long-term Article 8 fund net flows turned positive again.
• Fund acquisitions by European retail investors were negative in Q4 2023 (EUR 10 billion), but most types of institutional investors increased their fund acquisitions.
