Ucits sales fall by nearly half

Sales of Ucits funds in the first six months of the year were only about half the value of sales in the same period last year, industry data shows.

Ucits inflows for the first half of 2018 were €186 billion, compared to €376 billion in the same period of 2017.

Bernard Delbecque, director of economics and research at the European Fund and Asset Management Association (Efama), partly blamed the political environment but also said last year was exceptional for sales.

“[Net inflows in the first half of 2018 were] significantly lower than what was observed during the first half of 2017. Two main reasons can explain this outcome: firstly, 2017 was truly an outstanding year in terms of net sales of Ucits; and secondly, the challenging market and political environment that has developed in recent months has undermined investor confidence.”       

Total net assets of Ucits and alternative investment funds domiciled in Europe fell by 1.1% in June to €15.854 trillion, compared to €16.037 billion at the end of May.

More recent fund flow data from Lipper this week showed long-term Ucits funds (which excludes money market products) saw their third consecutive month of outflows in July. Exceptions were US equity and mixed asset funds.

©2018 funds europe

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