Inflows to investment funds were up in the second quarter compared to the previous period, according to new statistics from the European Fund and Asset Management Association (EFAMA).
In a statement released today, EFAMA said that net cash inflows to all funds topped €147bn in the last quarter, compared to €102bn of net inflows in the first quarter. The value of funds stood at €19.49tn at end June, slightly down on the previous period.
Long-term funds saw an increase in net cash inflows in the second quarter, hitting €206bn compared with €176bn of net inflows in the first quarter. However, equity funds registered net inflows of €16bn, down from €45bn in the previous quarter.
Net flows into bond funds jumped to €70bn over the quarter, compared to €42bn in the first quarter.
Money market funds continued to experience negative net cash flows for the ninth consecutive quarter registering net outflows of €59bn.
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