Long-term fund sales dip in April, but demand is “robust”

Mixed graph colourEquity fund sales went back into positive territory in April, though overall long-term fund flows in Europe slowed. Sales data for long-term funds, which excludes money market funds, dropped to €66 billion from €71 billion in March. Money market flows bring overall Ucits sales to €83 billion – up from €69 billion in March, according to data from the European Fund and Asset Management Association (Efama). Equity funds registered inflows of €6 billion against €3 billion of outflows the previous month. Bond funds and balanced funds saw a decline in sales during April but remained positive. Bond fund flows were €22 billion, down by €4 billion since March, and balanced fund sales were €29 billion, down by €10 billion. Efama describes the sales of Ucits long-term funds as robust, despite the drop in flows. “Demand for long-term Ucits remained robust in April as the economic outlook for Europe improved following the launch of quantitative easing by the ECB [European Central Bank],” says Bernard Delbecque, director of economics and research at Efama. Total assets of Ucits stood at €9,036 billion at end April 2015, representing a 0.4% increase during the month. Total assets of non-Ucits decreased 0.2% to stand at €3,541 billion at month end. Overall, total net assets of the European investment fund industry stood at €12,577 billion at end April 2015. ©2015 funds europe

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