Outflows from all long term fund categories saw Ucits funds experience increased net outflows in August, according to new statistics from the European Fund and Asset Management Association (EFAMA).

According to the association’s latest monthly investment fund industry fact sheet, net outflows from Ucits funds reached €20.3bn in August, up from €13.7bn in July.

Although money market funds experienced net inflows of €32.7bn, this was offset by net outflows from equity, bond, balanced, sub total long term, and other Ucits funds.

Commenting on the figures, EFAMA said the net outflows from long-term Ucits were the highest since October 2008. However, the net outflow of €53bn was considerably smaller than in the aftermath of the Lehman Brothers bankruptcy, when the figure was €111bn.

Total non-Ucits saw net sales of €8bn in August, up from €6bn the previous month. EFAMA said this was on account of an increase in net inflows to ‘special’ funds - funds reserved to institutional investors - which also climbed to €8bn during the month, from €6bn in July.

Assets of Ucits amounted to €5,556bn at end August, down 4.7 per cent since end July. Meanwhile, total assets of non-Ucits witnessed a decrease in net assets of 1.3 per cent to stand at €2,068bn.

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