UCITS attracted nearly EUR23billion in net sales for May, up slightly from EUR21billion in April.PARA_BREAK_SENTINEL_9f8e7d6c

UCITS attracted nearly EUR23billion in net sales for May, up slightly from EUR21billion in April. Whilst all UCITS sub-categories enjoyed positive inflows, the biggest beneficiary by far was Long-term UCITS – recording inflows of EUR16billion (slightly lower than EUR21billion recorded in April). Given the problems being faced in the Eurozone, appetite was much greater for bond UCITS (EUR8.4billion) than equity UCITS (EUR0.7billion) as equity markets remain fragile (MSCI Europe Index fell 1 per cent in May). This reverses net losses of EUR1billion in April. Money market UCITS attracted EUR6billion in new assets for May after flat lining in April. Total new assets for the sector now stand at EUR73billion YTD, putting the industry’s total AUM at EUR5.9trillion: a 1.1 per cent increase on April. Combined assets for UCITS and non-UCITS has now surpassed the EUR8trillion mark. Commenting on the strong inflows in bond UCITS, Bernard Delbecque (pictured), Director of Economics & Research at EFAMA, said: “The rebound in fixed income securities amid volatility in the markets highlights a shift in investors’ preference towards less risky assets.”