Net sales of all Ucits funds jumped 76% in January 2018 to €125bn, compared to last January’s net sales of €71bn, thanks to a surge of interest in equity funds, according to European Fund and Asset Management Association (Efama).
Efama’s latest investment fund industry data found that in January this year, net sales of equity funds totaled €48bn, three times more than January 2017’s sales of €6bn. These sales were also up €33bn from December 2017.
Commenting, Efama director of economics and research, Bernard Delbecque, said: “Net sales of Ucits surged to an all-time record level in January, as investors remained upbeat on equity markets through most of the month”.
Long term funds, which excludes money market funds, more than doubled their sales to €88bn in January 2018 when compared to the €40bn sold in January 2017.
January 2018 also saw a reversal in demand for money market funds which posted net inflows of €38bn against net outflows of €21bn in December 2017.
Total net assets of Ucits totalled €125.5bn by the end of January 2018.
