Efama’s latest investment fund industry fact sheet, published on 27 July, stated that European Ucits (undertaking for collective investment in transferable securities) and AIFs (alternative investment funds) saw net outflows of €13bn in May 2023, compared to net inflows of €29bn in April 2023.
European Ucits recorded net outflows of €7.492bn in May while AIFs saw outflows of €5.902bn.
Luxembourg, Ireland both saw Ucits outflows in May
Fund centres Luxembourg and Ireland both saw net outflows for Ucits in May 2023--the grand duchy recorded net outflows of €9.378bn while Ireland saw €1.387bn of net outflows.
In terms of alternative investment funds, however, Luxembourg saw net outflows of €1.731bn in May while Ireland recorded inflows of €540m.
Luxembourg still has over €4,201bn of net assets in Ucits and €960.7bn in AIFs, while Ireland counts €2,920bn of net assets in Ucits and €842.3bn in AIFs as of the end of May.
Bond Ucits attracting net inflows
European Ucits bond funds in May saw net inflows of €10bn in May 2023, down from €15bn of net inflows in April, according to Efama data. Equity funds, multi-asset funds and money market funds all registered net outflows.
“Bond Ucits continued to attract net inflows for the seventh month in a row, against the backdrop of interest rates close to their peaks and easing inflation pressures,” said Bernard Delbecque, senior director for economics and research at Efama, in a press release from the association.
Find Efama’s full investment fund industry fact sheet for May 2023 here.
