26 associations representing more than 99 percent of total UCITS and AIFassets provided us with net sales data.
The main developments in March 2016 can be summarized as follows:
- Net inflows into UCITS and AIF rebounded to EUR 28 billion, from EUR 8 billion in February.
- Net inflows into UCITS amounted to EUR 9 billion, compared to net outflows of EUR 0.4 billion in February. The turnaround in net sales reflected stronger net sales of long-term UCITS.
- Long-term UCITS (UCITS excluding money market funds) increased to EUR 19 billion, from net outflows of EUR 9 billion in February. Equity funds registered net outflows of EUR 2.1 billion, compared to EUR 4.3 billion in February. Net sales of bond funds rebounded to EUR 11.4 billion compared to net outflows of EUR 6 billion in February. Multi-asset funds recorded net sales of EUR 6 billion, compared to EUR 1 billion in February.
- UCITS money market funds experienced net outflows of EUR 10 billion, contrary to net inflows of EUR 9 billion in February.
- AIF recorded net inflows of EUR 18.5 billion, compared to EUR 8.9 billion in February.
- Net assets of UCITS increased by 0.9% in March to EUR 7,965 billion, whereas AIF net assets increased by 0.2% to EUR 5,073 billion. Overall, total net assets of European investment funds went up by 0.7% in March to stand at EUR 13,038 billion at the end of the month.
Uncertainties about economic growth in an environment of accommodative monetary policy continued to weight on equity funds in March, whilst supporting investor demand for bond and multi-assets funds.