Renewed appetite for Ucits equity funds pushed inflows into Ucits funds to €21bn in April, a dramatic turnaround from the €9bn outflows in March, according to the European Fund and Asset Management Association (Efama).
Balanced funds were the leading asset class with net sales of €10bn, the highest monthly figure since April 2010, while equity funds saw inflows of €8bn, up from outflows of €11bn in March. Efama said the gains reflect a “sustained positive growth outlook”.
Bond funds saw modest outflows of €0.7bn, which Efama attributed to persistent concerns about Europe's debt crisis and inflation fears. Money market funds remained stable.
Net sales of non-Ucits funds increased €1bn to €8bn, driven by sales of special funds for institutional investors.
Efama said its data was based on 23 associations, which represented more than 97% of Ucits and non-Ucits assets at the end of April 2011.
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