European money market funds recorded their worst September outflows ever, with €57bn leaving the space in a single month, according to data from the European Fund and Asset Management Association.
Net sales of UCITS and AIFs was just €9bn, down 83% from August's figure of €53bn, with AIFs the only positive contributor over the month. UCITS funds recorded net outflows of €3bn in September 2021, compared to net inflows of €72bn the previous month, with the €57bn of flows haemorrhaging from money market funds enough to negate the positive flows of equity, bond and multi-asset flows across the region. Flows were down across the UCITS board, with equity funds recording net sales of €19bn compared to €22bn the previous month and bond funds down to €13bn of positive flows from €19bn i...
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