In our latest Quarterly Statistical Release, we show the following main developments for the investment fund market:

• Net assets of UCITS and AIFs decreased by 0.6% to EUR 19.7 trillion.
   
• UCITS registered net inflows of EUR 29 billion, up from EUR 1 billion in Q2 2023.  
  • Equity funds recorded net outflows of EUR 3 bn, compared to EUR 13 bn in Q2.
  • Multi-assets funds recorded higher net outflows (EUR 23 bn) compared to EUR 20 bn in Q2.
  • Bond funds enjoyed net inflows of EUR 20 bn, down from EUR 35 bn in Q2.
  • MMFs recorded net inflows of EUR 38 bn, compared to EUR 6 bn in Q2.
  • Net sales of ETFs reached EUR 36 bn, compared to EUR 33 bn in Q2.

• AIFs experienced net inflows of EUR 6 billion, compared to EUR 44 billion in Q2.
  • Equity funds recorded net outflows of EUR 4 bn, compared to net outflows of EUR 19 bn in Q2.
  • Bond and multi-assets funds continued to record net inflows, albeit less strongly than in Q2.
  • MMFs recorded net inflows totaling EUR 1 bn, down from EUR 3 bn in Q2.
  • Real estate funds registered net inflows of EUR 2 bn, down from EUR 4 bn in Q2.
  • Other funds recorded net outflows of EUR 1 bn, compared to net inflows of EUR 32 bn in Q2.
     
• SFDR Article 9 funds dropped but remained positive, registering net inflows for the 10th consecutive quarter.

• Fund purchases by European retail investors continue in Q2 2023, totaling EUR 37 billion.

Bernard Delbecque, Senior Director for Economics and Research at EFAMA, commented: “Investors continued to favor bond and money market funds over equity and multi-assets funds last quarter. This can be explained by the current level of interest rates and the persistent volatility in stock markets. When investors start anticipating lower interest rates, the demand for equity and multi-asset funds is likely to increase again.”

-ENDS-

Notes to editors

About the EFAMA Quarterly Statistical Release:

The release is published by EFAMA every quarter and presents net sales and net assets data for UCITS and AIFs for 29 European countries: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and United Kingdom. It also includes a section providing information on the owners of investment funds in Europe and their net purchases of funds.

For further information, please contact:

Hayley McEwen

Head of communication and membership development

Email: hayley.mcewen@efama.org

Tel: +32 2 548 26 52