The European Fund and Asset Management Association (Efama) on 31 October published its most recent investment fund industry fact sheet, which includes fund statistics for August 2023.
Luxembourg alternative investment funds (AIFs) saw inflows of €3.366bn, while undertakings for collective investment in transferable securities (Ucits) domiciled in the grand duchy saw €7.776bn in outflows.
Ireland, a competitor to Luxembourg in the funds space, saw inflows for both AIFs (€1.792bn) and Ucits (€12.729bn) during the month of August.
European AIFs overall recorded €15.7bn of net inflows in June (down from €19.3bn in July), while Ucits funds reported net inflows of €0.7bn (down from €8.5bn in July), noted Efama.
Luxembourg AIF assets at €973bn in August
With €973.4bn, Luxembourg came in third place in terms of net AIF assets, after Germany (€2.12trn) and France (€1.32trn). It’s followed by Ireland (€852.5bn).
The grand duchy, however, conserves its top spot on the podium with regards to Ucits assets, with €4.222trn in net assets in August 2023.
Total net assets of Ucits and AIFs decreased by 0.8% in August to reach €19.979trn.
More money into money market funds
“Net inflows into money market funds strengthened in August whereas net sales of equity, bond and mixed-assets Ucits turned negative, reflecting an increase in investor risk aversion,” said Bernard Delbecque, senior director for economics and research at Efama.
Money market funds overall saw €24bn of inflows in August (up from €11bn in July). Equity funds saw €2bn in outflows (compared to €3bn of net inflows in July); bond funds saw net outflows of €2bn in August (compared to €14bn of inflows in July); multi-asset funds recorded €5bn of net outflows in August (and €6bn of outflows in July).
Efama’s monthly factsheet covers 24 EU countries, as well as Liechtenstein, Norway, Switzerland, Turkey and the United Kingdom.
Find Efama’s full investment fund industry factsheet for August 2023 here.