Latest figures from the European Fund and Asset Management Association, Efama, show that net sales of Ucits funds across the region rose in October when compared with September, boosted by bond fund sales even as sales of equity funds remained negative.
The data show that net inflows to Ucits and alternative investment funds, AIFs, hit €62bn for the month, against €51bn in September. Ucits alone saw net inflows of €47bn, which proportionately represented a significant increase from net inflows of €30bn in September.
However, broken down by asset class there were significant differences. Equity funds saw net withdrawals of €1bn, while sales of bond funds hit €17bn, while multi-asset funds saw sales of €6bn in October.
Money market funds saw a significant month on month increase in sales from €2bn to €25bn, Efama reported.
AIFs saw net sales dip to €15bn from €21bn the previous month. Taken together, the sales and market movements through the month took the value of net assets of European investment funds to €13.756trn by the end of October.
Source: Efama, data to end October 2016