Equities drive Ucits sales in Q3

Mixed-chartEquities were the main driver of flows into Ucits funds in the third quarter, while bond funds saw their first quarterly net outflow since 2011.

Equity funds added a net €30 billion, spelling an increase in assets for the sector of 7.8%.

Net flows for all Ucits funds reached €34 billion, up from €12 billion in the previous quarter. 

Uncertainty about bond market developments during the quarter penalised bond funds – which saw a net outflow of €12 billion – whereas equity funds benefitted from improved investor confidence, says the European Fund and Asset Management Association (EFAMA), which publishes the data.

“Long-term” Ucits funds – which excludes money market funds – registered net inflows of €43 billion in the third quarter, compared to €65 billion in the previous quarter. Money market funds saw decreased net outflows of €9 billion.

Net inflows to balanced funds continued to attract “strong” net inflows – €20 billion – albeit down from €28 billion in the second quarter.

Total net assets of Ucits increased by 3% during the third quarter to stand at €6.7 trillion at end September 2013. 

Total net assets of non-Ucits funds increased by 3.5% in the third quarter to stand at €2.8 trillion at end September 2013. 

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