European investment funds continued to experience net outflows for a sixth consecutive month as investors withdrew twice as much from Ucits and alternative investment funds during June compared to May, according to the European Fund and Asset Management Association, Efama.
Net sales of Ucits and AIF funds registered net outflows of 72 billion euro, compared to net outflows of 36 billion euro in May, the association said. Ucits recorded net outflows of 69 billion euro, compared to net outflows of 33 billion euro in May.
Equity funds recorded net outflows of 18 billion euro, compared to net outflows of 3 billion euro in May. Bond funds registered net outflows of 36 billion euro, compared to net outflows of 17 billion euro a month earlier. Multi-asset funds recorded net outflows of 6 billion euro, compared to net outflows of 4 billion euro.
Money market fund outflows slowed
Ucits money market funds recorded net outflows of 6 billion euro, compared to net outflows of 11 billion in May.
Alternative Investment Funds, or AIFs, registered net outflows of 2.5 billion euro, compared to net outflows of 2.9 billion in the previous month.
Total net assets of Ucits and AIFs decreased by 3.7 percent in June to 19,476 billion euro.
Efama’s monthly data is based input from 29 European countries: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and United Kingdom.