Net sales of UCITS and alternative investment funds (AIF) totalled €25 billion, down from €142 billion in January according to The European Fund and Asset Management Association (EFAMA).
EFAMA published the results in its latest investment funds industry fact sheet, which provides net sales of UCITS and AIFs for February.
Total net assets of UCITS and AIFs fell by 1.6 percent in February to €15,678 billion, compared to €15,926 billion at the end January.
UCITS money market funds recorded net outflows of €35 billion, compared to net inflows of €38 billion in January.
EFAMA also stated that UCITS registered net sales of €11 billion, down from €126 billion in January.
Long-term UCITS (UCITS excluding money market funds) recorded net sales of €47 billion, up from €88 billion in January.
Net sales of equity funds totaled €25 billion, down from €48 billion in January.
Net sales of bond funds totaled €4 billion, down from €20 billion in January, in addition net sales of multi-asset funds totaled €16 billion, down from €17 billion in January.
Some 28 associations representing 98 percent of total UCITS and AIF assets provided the net sales data.
The results are a stark contrast to EFAMA’s Q4 17 results, when EFAMA stated that it’s worldwide investment fund assets increased by 2.3 percent in the fourth quarter of 2017 to €44.3 trillion.
Bernard Delbecque, director of economics and research, EFAMA, said: “The turmoil on the markets in February had a strong impact on UCITS bond funds, which saw their net sales falling sharply, whereas investor demand for UCITS equity funds remained relatively strong.”
