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Investment Funds Net Sales and Net Assets in May 2014​

The main developments in May 2014 in the reporting countries can be summarized as follows:

  • Net sales of UCITS remained robust in May totaling EUR 43 billion, albeit down from EUR 62 billion in April. This decline in net sales can be attributed to the reduction in net sales of long-term funds, coupled with increased net outflows from money market funds.
  • Long-term UCITS (UCITS excluding money market funds) registered net inflows of EUR 48 billion, down from EUR 63 billion in April. Net sales of bond funds remained high at EUR 20 billion, albeit lower than April (EUR 27 billion). Net sales of equity funds halved in May to EUR 7 billion. Balanced funds continued to attract strong net inflows of EUR 17 billion, although down from EUR 20 billion in April.
  • Money market funds registered increased net outflows of EUR 5 billion, compared to net outflows of EUR 1 billion in April.
  • Total non-UCITS net sales reduced in May to EUR 9 billion from EUR 15 billion in April. This reduction in net sales can be attributed to other non-UCITS, which registered net sales of EUR 1 billion in May, down from EUR 7 billion in the previous month. Net sales of special funds (funds reserved to institutional investors) remained steady at EUR 7 billion in May.
  • Total net assets of UCITS stood at EUR 7,443 billion at end May 2014, representing a 2.5 percent increase during the month. Total net assets of non-UCITS increased 1.5 percent to stand at EUR 2,975 billion at month end. Overall, total net assets of the European investment fund industry rose 2.2 percent to EUR 10,417 billion at end May 2014.

Net sales of long-term UCITS remained at elevated levels in May as expectations mounted of interest rate cuts by the ECB to stimulate growth and head off deflation.