Net sales of Ucits and AIF funds declined by €16bn between October and November largely driven by a slump in demand for money market funds.
While net sales of equity, bond and multi-asset funds were on the rise, Ucits money market funds reported a reversal of flows from €19bn net inflows in October to €1bn net outflows in November, according to the latest European Fund and Asset Management Association (EFAMA) data.
At the same time, net sales of equity funds more than doubled compared to the previous month, from €12bn to €25bn in November. Net sales of bond and multi-asset funds also showed moderate growth, from €26bn to €28bn and from €16 to €18bn respectively.
