Fund sales defy volatility for first quarter rise

Fund sales riseNet sales of Ucits and alternative investment funds defied market volatility to reach €222 billion in the first quarter of this year – up from €189 billion in the fourth quarter of 2017.

Figures from the European Fund and Asset Management Association (Efama) show that, while net sales of equity and multi-asset funds continued to increase during the first quarter of 2018, net sales of bond funds fell sharply. 

Equity funds enjoyed the highest level of net sales (€85 billion) in the first quarter, followed by multi-asset funds (€58 billion). Bond funds sold €27 billion – a drop from €75 billion.

Overall, though, long-term Ucits funds (which excludes money market funds) recorded the same amount of net sales as they did in Q4 2017: €173 billion.

Net sales of alternatives funds did see a positive bounce, with €51 billion of sales in the first quarter compared to €19 billion in the fourth quarter of 2017.

Total European investment fund net assets decreased by 0.5% to €15,541 billion at the end of March 2018 with net assets of Ucits funds dropping 0.6% to €9,669 billion.

Net assets of alternative investment funds fell 0.4% to €5.872 billion.

Bernard Delbecque, Efama’s senior director for economics and research, said: “Net sales of Ucits remained strong in Q1 2018 thanks to a sales record in January and continuing net sales in the following two months, despite the turmoil in the markets.”

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