March 2024 saw net inflows of €24 billion for Ucits and alternative investment funds, an increase from €21 billion in February, according to the European Fund and Asset Management Association (Efama).
Data from the trade association for European asset managers, Ucits specifically attracted €22 billion in net inflows, slightly down from €23 billion the previous month. Long-term Ucits, excluding money market funds, saw net inflows of €18 billion, a decrease from €32 billion in February.
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Equity funds experienced net outflows of €1 billion, a reversal from the €12 billion net inflows in February. Bond funds saw net inflows of €19 billion, though this was lower than the €34 billion in the previous month. Multi-asset funds continued to struggle with net outflows of €4 billion, compared to €14 billion in February.
Ucits money market funds recorded net inflows of €4 billion, an improvement from the net outflows of €9 billion in February. Ucits ETFs maintained positive momentum with net inflows of €13 billion, although down from €20 billion in the prior month.
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Alternative investment funds showed a positive turn with net inflows of €2 billion, contrasting with the net outflows of €2 billion in February. Overall, the total net assets of Ucits and alternative investment funds increased by 2%, reaching €21,627 billion.
Thomas Tilley, senior economist at Efama, highlighted the persistent trends from the previous year, stating: “During the first three months of 2024, the long-term Ucits market exhibited the same trends as in 2023: solid net inflows into bond funds and equity ETFs and net outflows from multi-asset funds.”