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Ucits funds receive inflows in October
17 December 2012
Net inflows into Ucits funds surged in October to €41bn on reduced euro area uncertainty, says Efama
European Fund and Asset Management Association
Net inflows into Ucits funds rose in October to €41bn, partially reversing net outflows of €10bn recorded in September, according to the European Fund and Asset Management Association (Efama).
Ucits, excluding money market funds, jumped to €34bn in October up from €13bn in September. Net inflows into bond funds increased to €25bn from €9bn a month earlier, while equity funds recorded net inflows of €3bn for the second month in a row.
“The reduction in uncertainty regarding the future of the euro area, in an environment of gloomy growth prospects and subdued inflation, supported the net sales of bond funds in October,” commented director of economics and research at Efama, Bernard Delbecque.
“At the same time, the demand for equity funds remained modest, suggesting that investors stay very sensitive to stock market risk.”
Net sales of money market funds returned to positive balance in October recording net inflows of €6bn, after registering net outflows in September of €23bn.
Total net sales of non-Ucits funds also increased in October, to €13bn, up from inflows of €4bn in September.