A total of €18bn was invested into Europe-based funds in the second quarter of this year, according to industry body EFAMA.
The figure is down sharply from the first quarter, when €30bn went into collectives, mostly due to large outflows from money market funds. A total of €30bn was pulled out of cash funds in the second quarter, compared with €9bn of withdrawals in the first quarter.
Net inflows into UCITS amounted to €48bn during the first half of 2011, slightly behind the €55bn recorded in the same period of 2010.
"This reduction came on the back of a stream of events, from the Arab uprisings and the Japanese earthquake, to concerns about sovereign debt risk, which affected investor confidence," said a spokesperson from EFAMA.
Money market funds experienced the highest asset decrease, falling by 3 per cent, followed by equity funds, which fell by 1.2 per cent.
Net assets of balanced funds enjoyed a leap in net asset growth, up 4.9 per cent during the quarter – a trend reflected in June’s sales data.
Bond funds also enjoyed an increase in net assets of 1.5 per cent during the quarter.
Black swan events wreak havoc on inflows
02 September 2011
Investors piled out of funds – particularly money market vehicles – between the start of April and the end of June this year.
By Lora Coventry,
Reporter, FE Trustnet
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