The main developments in November 2013 in the reporting countries can be summarized as follows:
• Net sales of UCITS remained relatively steady in November attracting EUR 20 billion of net new cash, compared to EUR 21 billion in October.
• Long-term UCITS (UCITS excluding money market funds) registered net inflows of EUR 22 billion, compared to EUR 26 billion in October.
- Equity funds attracted net inflows of EUR 11 billion, down from EUR 15 billion in October.
- Bond funds registered net inflows of EUR 7 billion, compared to break-even point a month earlier.
- Net sales of balanced funds amounted to EUR 9 billion, compared to EUR 7 billion in October.
• Money market funds registered reduced net outflows in November of EUR 3 billion, down from EUR 5 billion in October.
• Total non-UCITS recorded net sales of EUR 12 billion in November, compared to EUR 19 billion in October. This decrease in net sales can be attributed to special funds (funds reserved to institutional investors) which registered net inflows of EUR 8 billion, down from EUR 18 billion in October.
- Total net assets of the European investment fund industry at end November amounted to EUR 9,712 billion.
- Total net assets of UCITS stood at EUR 6,923 billion at end November 2013, representing a 0.9 percent increase during the month.
- Total net assets of non-UCITS increased by 0.4 percent to stand at EUR 2,789 billion at month end.
Peter De Proft, Director General of EFAMA, commented:
* Please see the accompanying attachment for the EFAMA Investment Fund Industry Fact Sheet (November)