Fixed income still the dominant force in Europe
The latest monthly report from the European Fund and Asset Management Association shows fixed income is still the region’s prefered asset class for retail investors.
The latest monthly report from the European Fund and Asset Management Association shows fixed income is still the region’s prefered asset class for retail investors.
Sales of Ucits funds surged in the first quarter of 2012, after a level of confidence returned to investors following the European Central Banks decision to launch the longer-term refinancing operation (LTRO).
The European Fund and Asset Management Association today called on the US to further refine the rules it is proposing for the implementation of FATCA, although it acknowledged that the most recent set of draft regulations aimed at cracking down on offshore tax evasion addressed “many” of its original concerns.
The trend of net monthly Ucits fund outflows amounting to billions of euros in the past calendar year lessened towards the end of 2011, with bond funds seeing net inflows in December for the first time since the summer.
The assets of investment funds domiciled in Ireland surpassed the 1trn (£830bn, $1.28trn) mark at the end of November last year, an increase of 40% on the assets held at the end of November 2009.
Investors throughout Europe are still moving money out of Ucits funds although the rebound in stock markets during October saw assets overall rise in value.
European Ucits funds saw net outflows more than double from August to September to just short of 50bn, according to the European Fund and Asset Management Association.
The number of funds covered by EFAMAs cross-border fund classification has more than doubled in three months, in a bid to provide investors across the continent with more transparent information.
According to EFAMA’s latest monthly monitoring, fund managers across Europe are continuing to see net outflows of assets.
Bond funds enjoyed a surge in popularity in May, according to Efama.
European fund sales continued to slow according to EFAMA data for June 2011.
EFAMA has named Claude Kremer president.