Record high for Ucits and non-Ucits assets, says Efama

Ucits and non-Ucits assets have surpassed the €11 trillion mark for the first time ever.

The combined assets for Ucits and non-Ucits ended the third quarter (Q3) at €11,057 billion, according to the European Fund and Asset Management Association (Efama).

Efama’s latest statistical research finds that Ucits recorded increased net inflows of €130 billion in Q3 of 2014, up from €126 billion in Q2.

This marks the third successive quarter of Ucits net sales surpassing the €100 billion mark.

In 2014 to date, Ucits has attracted €405 billion in net inflows, more than double the €178 billion drawn in over the same period in 2013.

Money market funds were particularly successful during Q3, posting net inflows of €13 billion, against net outflows of €22 billion recorded in Q2.

In contrast, flows into long-term Ucits (excluding money market funds) decreased to €117 billion compared to €148 billion in the second quarter.

Net sales of equity funds also declined from €24 billion to €14 billion, a slowdown that Efama says has been the result of geopolitical tensions, global stock market volatility and heightened concerns about the threat of deflation in Europe.

Demand for bond funds and balanced funds remained robust, in response to the ECB cutting interest rates and announcing plans for monetary easing.

Luxembourg, Ireland and Italy registered the strongest inflows in the third quarter, while Portugal and Greece faired worst, both seeing outflows.

Overall, total net assets of Ucits increased by 4.3% during the period to stand at €7,807 billion at end September 2014, while total net assets of non-Ucits increased by 3.1% to €3,250 billion.

©2014 funds europe

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