EFAMA has today published its European Quarterly Statistical Release for Q2 of 2024.
Thomas Tilley, Senior Economist at EFAMA, commented: “In Q2 there were net inflows across all categories of funds, with particularly strong inflows into bond funds. This continues the trend we saw in Q1, making bond funds the top-performing category of the year so far, as investors anticipated rate cuts.”
The main developments in Q2 2024 are as follows:
Net assets of UCITS and AIFs rose by 2.2% in Q2 2024.
UCITS and AIFs attracted net inflows of EUR 148 billion in Q2 2024. Net sales of UCITS amounted to EUR 134 billion, while AIFs registered net inflows of EUR 14 billion.
Demand for long-term funds remained robust thanks to sustained bond fund inflows. Long-term UCITS and AIFs recorded net inflows of EUR 119 billion in Q2 2024, compared to EUR 85 billion in Q1 2024. With investors anticipating rate cuts, bond funds attracted strong net inflows of EUR 79 billion, but still below the EUR 95 billion of Q1 2024.
Money market funds registered net inflows of EUR 29 billion, slightly up from EUR 21 billion in Q1 2024.
SFDR Article 9 funds recorded net outflows for the third consecutive quarter. These outflows totalled EUR 6.5 billion, compared to EUR 4.2 billion in Q1 2024. On the other hand, long-term SFDR Article 8 funds registered the same level of net sales as in Q1 2024 (EUR 19 billion).
Fund purchases by European households rebounded in Q1 2024, with net acquisitions by retail investors reaching EUR 40 billion, up from EUR 5 billion in Q4 2023.
Highlights from the first half of 2024 include:
Net assets of UCITS and AIFs increased by 6.7%, with UCITS up by 8.1% and AIFs up by 4.3%.
Net sales of UCITS and AIFs reached EUR 232 billion and EUR 23 billion, respectively. These sales were mainly driven by strong net inflows into bond funds.
Net sales of equity UCITS amounted to EUR 45 billion in H1 2024. ETFs registered net inflows of EUR 76 billion, while non-ETFs experienced net outflows of EUR 31 billion.
Net sales of bond UCITS totalled EUR 155 billion. ETFs in this category attracted EUR 26 billion in net inflows, while non-ETFs saw net inflows of EUR 129 billion.
Multi-asset UCITS recorded net outflows totalling EUR 28 billion. In contrast, multi-asset AIFs performed well, attracting EUR 19 billion in net new money, with strong sales reported from Germany and the UK.
MMF UCITS attracted EUR 51 billion of net inflows.
-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 communications & membership development
