Net assets of UCITS has increased by 7.8 percent to €10.4 trillion in Q1 2019, due to the rebound of financial markets, according to the European Fund and Asset Management Association (EFAMA).
EFAMA also found net assets of alternative investment funds (AIFs) increased by 6.4 percent to €6.2 trillion.
However, there was a downward trend in net sales of equity funds due to weaker economic growth.
Net sales of UCITS and AIF equity funds recorded net outflows of €38 billion, compared to net inflows of €3 billion in Q4 2018.
UCITS equity funds recorded net outflows of €27 billion, compared to net outflows of €7 billion in Q4 2018.
AIF equity funds registered net outflows of €11 billion, compared to net inflows of €4 billion in Q4 2018.
Bernard Delbecque, senior director for economics and research, commented: “After the challenges the industry faced in 2018, and coming off net outflows in Q4, the sales we have seen in Q1 represented a positive development for the industry.”
“However, the net outflows from equity funds confirmed that investor confidence in equity markets has yet to return.”
