The latest figures from the European Fund and Asset Management Association (EFAMA)record net outflows of EUR30bn from money market funds, but increased interest in balanced and bond funds.
Money market funds experienced net outflows of EUR30bn in the second quarter of 2011, according to the latest Quarterly Statistical Release from the European Fund and Asset Management Association (EFAMA). However, excluding money market funds, UCITS benefited from net inflows of EUR48bn during the quarter, up from EUR39bn in the previous quarter.
Total net assets of UCITS decreased by 0.5 percent in the second quarter to reach EUR 5,921bn over the quarter. Money market funds experienced the highest asset decrease, falling by 3.0% followed by equity funds, which fell by 1.2%.
Net assets of balanced funds enjoyed a leap in net asset growth, up 4.9% during the quarter. Bond funds also enjoyed an increase in net assets of 1.5% during the quarter.
Total net assets of non-UCITS increased by 1.0% in the second quarter to reach EUR 2,183bn. Assets of special funds reserved to institutional investors increased by 1.2 percent during the second quarter, thanks to continued net inflows (EUR 16bn).
EFAMA represents through its 26 member associations and 56 corporate members approximately EUR14tr in assets under management of which EUR8tr was managed by approximately 54,000 funds at the end June 2011.
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