Net sales of Ucits funds increased by €51bn throughout August, driven by solid demand for fixed income products, according to the latest data presented by European Fund and Asset Management Association (Efama).
While net inflows into Ucits and AIF’s in August remained stable, the growth rate slowed down somewhat from €66bn in July to €55bn in August.
Fixed income funds attracted the strongest investor demand, with inflows increasing from €23 to €25bn month on month, compared to equities, which saw a modest turnaround, from net outflows of €2bn in July to €1bn inflows in August. Meanwhile, Ucits compliant money market funds reported €18bn of net sales, compared to €24bn the previous month.
AIF funds recorded net inflows of €4bn, down from €16bn in July. This was mainly caused by net outflows in AIF equity and AIF money market funds.