Net inflows into investment funds worldwide rose in the second quarter of this year and totalled €147 billion, according to the European Fund and Asset Management Association.
The latest international statistics show inflows top first quarter’s €102 billion of net inflows, suggesting that the industry is recovering.
This increase was largely caused by net inflows into long-term funds, coupled with reduced net withdrawals from money market funds.
Net inflows to long-term funds, excluding withdrawals from money market funds, increased to €206 billion, up from €176 billion of net inflows in the first quarter.
The break down of the fund flows show bond funds saw net inflows of €70 billion, equity funds of €16 billion and balanced funds of €40 billion.
Money market funds suffered withdrawals of €59 billion, compared to €74 billion previously. However, the average number for money market funds masks considerable differences in Europe and the US. Withdrawals from money market funds in the US almost halved to €32 billion, whereas those from European money market funds more than tripled to €30 billion.
Worldwide, investment fund assets remained steady totalling €19.49 trillion at end June.
©2011 funds europe