Net sales of UCITS and AIFs see €95bn decrease – EFAMA

Written by Adam Cadle

22/04/2020

Net sales of UCITS and AIFs saw a decrease between January and February 2020 of €95bn, from €137bn down to €42bn, the European Fund and Asset Management Association (EFAMA) has revealed.

According to its latest Investment Fund Industry Fact Sheet, a decrease in sales was seen across all products and asset classes.

UCITS recorded net inflows of €25bn, compared to €108bn in January 2020. Long-term UCITS (UCITS excluding money market funds) recorded €29bn of net sales, down from €60bn in January 2020.

Equity funds registered net outflows of €4bn, compared to net inflows of €17bn in January 2020. Net sales of bond funds decreased to €25bn, from €30bn in January 2020.

Multi-asset funds recorded net inflows of €8bn, compared to €11bn in January 2020. UCITS money market funds recorded net outflows of €4bn, compared to net inflows of €48bn in January 2020.

AIFs recorded net inflows of €17bn, down from €29bn in January 2020. Total net assets of UCITS and AIFs decreased by 2.9 per cent to €17,519bn.

Commenting, EFAMA senior director for economics and research, Bernard Delbecque, said: “Despite a turnaround in flows experienced by equity funds, net sales of UCITS and AIFs remained positive in February, as the COVID-19 crisis only broke out at the very end of the month. After a strong start to the year, the industry has entered a challenging environment as markets fell and investors’ confidence started to vanish.”

Twenty-nine associations across Europe representing 98 per cent of total UCITS and AIF assets in Europe provided EFAMA with net sales data for the month of February 2020.

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