European Ucits sales plunge in April, Efama
Net sales of undertakings for collective investments in transferable securities fell by almost £25bn in April, due mainly to a steep reduction in net sales of long-term Ucits, new data has revealed.
According to data provided by the European Fund and Asset Management Association for April 2012, Ucits net sales totalled £14.5bn, a drop of £23.4bn from £37.9bn in March.
The drop was due in large part to slow long-term Ucits sales, which reached only £6.4bn in April compared to £25.8bn in March.
Bernard Delbecque, director of economics and research at Efama, said: “The decline in the net sales of Ucits in April reflected, among other factors, investors’ lingering concerns about the growth and fiscal issues in the eurozone and the relating market risks and political uncertainty.”
Net sales of equity funds turned negative in the month, producing net outflows of £6.4bn in April, compared to net inflows of £805.5m in March.
Bond funds were also down, with net sales totalling £12.9bn compared to £20.9bn the previous month.