EFAMA has today published its latest monthly Investment Fund Industry Fact Sheet, which provides net sales data on UCITS and AIFs for August 2022, at European level and by country of fund domiciliation.

Bernard Delbecque, Senior Director for Economics and Research at EFAMA, commented: “Money market funds and bond funds UCITS saw their worst ever performance during the first half of the year, with net outflows of EUR 135 bn and EUR 116 bn, respectively.  This is not surprising as the abrupt rise in interest rates on the back of persistently high inflation depressed prices in fixed-income markets.  The good news is that investors purchased a net EUR 22 bn of money market and bond funds in August.  While it is unclear whether net sales will remain positive during the coming months, the current level of interest rates has improved the risk-reward profile of fixed-income funds and suggests that the demand for these funds will eventually strengthen when the interest rate peaks come into sight.”

The main developments in August 2022 can be summarised as follows:

• Net sales of UCITS and AIFs registered net inflows of EUR 11 bn, compared to net outflows of EUR 43 bn in July.

• UCITS recorded net inflows of EUR 11 bn, compared to net outflows of EUR 24 bn in July.
   
  • Long-term UCITS (UCITS excluding MMFs) registered net outflows of EUR 3 bn, compared to net outflows of EUR 26 bn in July.
     
    • Equity funds recorded net outflows of EUR 15 bn, compared to net outflows of EUR 22 bn in July.
    • Net inflows of bond funds amounted to EUR 9 bn, up from EUR 1 bn in July.
    • Multi-asset funds recorded net inflows of EUR 3 bn, compared to net outflows of EUR 4 bn in July.
       
  • UCITS MMFs recorded net inflows of EUR 14 bn, up from EUR 2 bn in July.
     
• AIFs registered net inflows of EUR 0.2 bn, compared to net outflows of EUR 19 bn in July.
   
• Total net assets of UCITS and AIFs decreased by 1.9% in August to EUR 19,936 bn.

-ENDS-

Notes to editors

About the Monthly EFAMA Investment Fund Industry Fact Sheet:

The Fact Sheet is published by EFAMA monthly 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.

For further information, please contact:

Hayley McEwen

Tel: +32 2 548 26 52

Email: Hayley.McEwen@efama.org