There was a large drop in net sales of UCITS for August 2014, according to the European Fund and Asset Management Association (EFAMA), which put August’s figure at €38 billion compared to €59 billion in July.
EFAMA attribute this drop in net sales to a reduction of net sales of equity and money market funds during August.
Also on the down was long-term UCITS, which posted net inflows of €29 billion, down from €41 billion in July.
The net sales of equity funds broke even for the month, with bond funds and balanced funds registering slight decreases in net sales.
Money markets funds halved in August, registering €9 billion from €18 billion in July.
There was good news for total net assets of UCITS, which registered a 2 percent increase for the month to stand at €7.769 billion.
Total net assets of non-UCITS increased by 1.2 percent, with the total net assets of the European Investment fund industry standing at €10.850 billion by the end of August.
Bernard Delbecque, director of economics and research, said: “Net sales of equity funds fell to break-even level in August on the back of a subdued global growth outlook and geopolitical uncertainties.”
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