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- Beverly Chandler
- December 11, 2023
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EFAMA’s latest Quarterly Statistical Release shows the following main developments for the European investment fund market:
· Net assets of UCITS and AIFs decreased by 0.6 per cent to EUR 19.7 trillion.
· UCITS registered net inflows of EUR29 billion, up from EUR1 billion in Q2 2023.
o Equity funds recorded net outflows of EUR3 billion, compared to EUR13 billion in Q2.
o Multi-assets funds recorded higher net outflows (EUR23 billion) compared to EUR20 billion in Q2.
o Bond funds enjoyed net inflows of EUR20 billion, down from EUR35 billion in Q2.
o MMFs recorded net inflows of EUR38 billion, compared to EUR6 billion in Q2.
o Net sales of ETFs reached EUR36 billion, compared to EUR33 billion in Q2.
· AIFs experienced net inflows of EUR6 billion, compared to EUR44 billion in Q2.
o Equity funds recorded net outflows of EUR4 billion, compared to net outflows of EUR19 billion in Q2.
o Bond and multi-assets funds continued to record net inflows, albeit less strongly than in Q2.
o MMFs recorded net inflows totalling EUR1 billion, down from EUR3 billion in Q2.
o Real estate funds registered net inflows of EUR2 billion, down from EUR4 billion in Q2.
o Other funds recorded net outflows of EUR1 billion, compared to net inflows of EUR32 billion in Q2.
· SFDR Article 9 funds dropped but remained positive, registering net inflows for the 10th consecutive quarter.
· Fund purchases by European retail investors continue in Q2 2023, totalling EUR37 billion.
Bernard Delbecque, Senior Director for Economics and Research at EFAMA, says: “Investors continued to favour bond and money market funds over equity and multi-assets funds last quarter. This can be explained by the current level of interest rates and the persistent volatility in stock markets. When investors start anticipating lower interest rates, the demand for equity and multi-asset funds is likely to increase again.”
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