Ucits sales jump on back of ECB action

Mixed-chartSales of Ucits funds jumped in the third quarter to a net €20 billion – up from €7 billion in the second quarter. Large withdrawals from money markets funds were seen as investors gained enough optimism to invest in “long-term” Ucits – funds other than money market funds, according to the European Fund and Asset Management Association (Efama). Net flows were seen most in bonds, which saw €50 billion of inflows, while equities saw net outflows of €9 billion, though this was down from €28 billion in the second quarter. Efama said European Central Bank policy decisions were behind the increased sales. ©2012 funds europe

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