Europe funds report outflows of €10bn in September

EU euro notes closeup 450

The European Fund & Asset Management Association has reported net outflows of €10bn from Ucits funds during September, compared with net inflows of €24bn during August.

Outflows were fuelled by a large swing in the net sales of money market funds.

Net sales of Ucits, excluding money market funds, witnessed inflows of €13bn during September. Equity funds saw net inflows of EUR 3 billion in September, the first month of inflows since March.

The European trade body reported net inflows into bond funds halved in September to €9bn, while balanced funds also slowed from €6bn in August to €2bn in September.

The trade body’s director of economics and research Bernard Delbecque says: “The ECB’s decisions as regards Outright Monetary Transactions and the approval of the European Stability Mechanism by Germany’s Constitutional Court enticed investor return to equity funds, thereby supporting net sales of long-term funds.”