Investors across Europe are moving back into UCITS funds, said the European Fund and Asset Management Association (EFAMA) at its Annual Conference.

UCITS sales, which hit €92bn between January and July 2009, have continued to show positive results across 26 European countries.

The conference also saw the launch of EFAMA's seventh edition of its Fact Book 2009: Trends in European Investment Funds.

"The latest industry data is encouraging and serves to demonstrate that the fund and asset management industry is viewed by the investment community as a potential solution towards finding a way through the current economic challenges," commented Jean-Baptiste de Franssu. "We need to maintain our focus on ensuring effective implementation of regulations such as the Alternative Investment Fund Managers Directive, UCITS IV, money market funds and OTC derivatives, as well as making further progress towards a level playing field for financial retail products."

July 2009 saw net inflows into UCITS of €38bn, with long-term UCITS (excluding money market funds) reaching net inflows of €28bn. July also recorded a four per cent increase in the total assets of both UCITS and non-UCITS funds, compared to the end of June.

The EFAMA Fact Book looks at recent developments in the European investment fund industry, featuring a foreword by president of the Committee of European Securities Regulators (CESR), Eddy Wymeersch. Worldwide investment funds assets, the Fact Book says, decreased by 21 per cent in 2008 to €14,321bn, although over the long-term assets were 27 per cent higher at end 2008 compared to end 2003.

The Fact Book was sponsored by Caceis, Clearstream, Ernst & Young, Finesti, Funds Europe, IGEFI, KPMG and SWIFT.

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