Total sales in May were valued at €34bn, compared to €44bn in April. Long-term Ucits, those that exclude money market funds, also registered a €10bn drop with inflows of €39bn compared to €49bn in April.
In terms of fund type, net sales of bond funds remained high at €21bn but failed to reach the record high of €30bn seen in April. Balanced fund sales remained steady, totalling €13bn for the third consecutive month.
The continued strength of inflows is deemed a reflection of low interest rates and the importance of the diversification provided by balanced funds. Find out more about investor sentiment towards various assets here.
Equity funds dropped into negative territory, registering outflows of €1bn following inflows of the same amount in the previous month.
Non-Ucits sales declined significantly during the month falling from €20bn to €5bn due in large part to the fall in special funds, those reserved for institutional investors, which saw inflows of just €2bn compared to €18bn the previous month.
Total Ucits assets increased 0.5% during the month and now stand at €6.8bn, while non-Ucits increased 0.1% to €2.6bn.
Last month BNP Paribas Investment Partners CIO Christian Dargnat was elected president of EFAMA, a position he will maintain for a two year term.
