The European Fund and Asset Management Association (EFAMA) has published its latest Investment Fund Industry Fact Sheet*, which provides investment sales and asset data for May 2013. 26 associations representing more than 99.6 percent of total UCITS and non-UCITS assets at the end of May 2013 provided us with net sales and/or net assets data.
The main developments in May 2013 in the reporting countries can be summarized as follows:
- Net sales of UCITS remained robust in May totalling EUR 34 billion, compared to EUR 44 billion in April. This decline in net sales can be primarily attributed to the reduction in net sales of bond funds.
- Long-term UCITS, (UCITS excluding money market funds), registered net inflows of EUR 39 billion, compared to EUR 49 billion in April.
- Net sales of bond funds remained high at EUR 21 billion, albeit lower than the record inflows of EUR 30 billion registered in April.
- Net sales of equity funds returned to slightly negative territory in May with outflows of EUR 1 billion, compared to inflows of EUR 1 billion in April.
- Net sales of balanced funds remained steady in May recording net inflows of EUR 13 billion for the third consecutive month.
- Money market funds registered reduced net outflows of EUR 5 billion, down from EUR 7 billion in April.
- Total non-UCITS recorded a steep decline in net sales in May, net inflows reduced to EUR 5 billion from EUR 20 billion in April. This reduction in net sales can be attributed to special funds (funds reserved to institutional investors) which registered net inflows of EUR 2 billion, a considerable drop from EUR 18 billion recorded in the previous month.
- Total net assets of UCITS stood at EUR 6,813 billion at end May 2013, representing a 0.5 percent increase during the month. Total net assets of non-UCITS increased 0.1 percent to stand at EUR 2,686 billion at month end. Overall, total net assets of the European investment fund industry rose 0.4 percent to EUR 9,500 billion at end May 2013.
Bernard Delbecque, Director of Economics and Research at EFAMA, commented :
“Bond and balanced funds continued to attract strong net inflows in May, reflecting market expectations of lower interest rates and the importance given by investors to the broad asset diversification provided by balanced funds.“