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Long-term funds attract record flows
03 July 2013
Efama releases new statistics on the global investment fund industry
Long-term funds attracted record flows during the first quarter of the year, according to the European Fund and Asset Management Association (Efama).
The association’s latest statistics on the investment fund industry shows that long-term funds, all funds excluding money market funds, had inflows of €402bn during the quarter.
According to Efama, this inflow is the highest ever recorded into these types of funds.
Investors flocked to worldwide equity funds in the first quarter as they attracted €109bn, their highest level of inflows since 2006.
Worldwide net cash inflows stayed at a high level at €320bn. Efama attributed this to record inflows into long-term funds and net outflows from money market funds.
Some €82bn flowed out of money market funds in the first quarter, a dramatic swing from the fourth quarter of 2012 when they had net inflows of €106bn. Most of the outflows were from US funds while net flows in European funds stayed relatively flat.
At the end of the first quarter, assets of equity funds represented 38% of all investment fund assets worldwide, bond funds represented 24%, and money market funds represented 15%.