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

Bernard Delbecque, Senior Director for Economics and Research at EFAMA, commented: “Net sales of UCITS bounced back in October thanks to a historical record of net inflows into money market funds (MMFs) which were driven by pension funds using liability-driven investment (LDI) strategies that experienced margin calls during the gilt market turmoil following the presentation of the mini-budget in the UK on 23 September.  As a result, pension funds sold long-dated government bonds and parked most of the cash into Sterling MMFs domiciled in Ireland.”

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

• Net sales of UCITS and AIFs registered net inflows of EUR 3 bn, compared to net outflows of EUR 103 bn in September.

• UCITS recorded net inflows of EUR 71 bn, compared to net outflows of EUR 109 bn in September.
   
  • Long-term UCITS (UCITS excluding MMFs) registered net outflows of EUR 53 bn, compared to net outflows of EUR 79 bn in September.
     
    • Equity funds recorded net outflows of EUR 14 bn, compared to net outflows of EUR 33 bn in September.
    • Bond funds registered net outflows of EUR 21 bn, compared to net outflows of EUR 31 bn in September.
    • Multi-asset funds recorded net outflows of EUR 14 bn, compared to net outflows of EUR 12 bn in September.
       
  • UCITS money market funds (MMFs) registered record net inflows of EUR 124 bn, compared to net outflows of EUR 30 bn in September.
     
• AIFs recorded net outflows of EUR 69 bn, compared to net inflows of EUR 5 bn in September.
   
• Total net assets of UCITS and AIFs increased by 1.3% in October to EUR 19,232 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.