Tough year for money market funds EFAMA
Money market funds faced a difficult year last year but net sales of long-term UCITS jumped by more than one third.
Money market funds faced a difficult year last year but net sales of long-term UCITS jumped by more than one third.
The FCA has outlined plans to speed up fund authorisations with measures to help the UK increase its competitiveness against offshore financial centres.
Ucits sales remained strong in May, but were 10bn below April’s total due to the drop in net sales of bond funds according to data provided by the European Fund and Asset Management Association (EFAMA).
Ucits net sales hit their largest quarterly total since 2006 in the first quarter of 2013 as demand surged to 130bn and ten countries attracted net inflows of more than 1bn.
Ignis has revealed details of a global absolute return government bond fund aimed at sophisticated and institutional investors, which will be launched later in the year.
Ireland and Luxembourg accounted for the majority of Ucits net sales in 2012, while inflows across Europe returned to positive territory on the back of strong demand.
ECB action to save the euro, along with its progress in redressing imbalances in the region's economy resulted in strong demand for Ucits funds in 2012, according to a report by the European Fund and Asset Management Association (EFAMA).
Morgan Stanley is launching a new Ucits-structured fund through its FundLogic Alternatives platform, offering exposure to Winton Capital Management’s Diversified Platform.
In 2011, investors across Europe redeemed net more than 100bn from Ucits and non-Ucits funds, according to the latest figures from EFAMA.
According to EFAMA’s latest monthly statistics, October shows continued net outflows from Ucits and non-Ucits funds while the value of assets rose slightly.
According to EFAMA’s latest monthly monitoring, fund managers across Europe are continuing to see net outflows of assets.