For immediate release
Global
divergences in long-term funds net sales in Q3 2020
Brussels, 21st December 2020 - The European Fund and Asset
Management Association (EFAMA) has today published its latest quarterly
international statistics, tracking and analysing trends in worldwide regulated
open-ended fund assets and flows for Q3 2020.
Bernard
Delbecque, Senior Director for Economics and Research commented: “Despite strong net outflows from equity funds in
the United States, net sales of worldwide long-term funds remained very high
in Q3 2020. A trend supported by continued demand in Europe and other
advanced economies, the sharp increase in net sales of multi-asset funds in
China and the sustained demand for bond funds in the United States”. The main developments in Q3
2020 can be summarised as follows: Growth in worldwide net
assets of investment funds - Net assets of worldwide
investment funds increased by 1 percent in Q3 2020 to EUR 52.2 trillion. Measured in U.S. dollars, the growth in
assets reached 5.6 percent. The smaller asset growth measured against the
euro reflects the depreciation of the dollar vis-à-vis the euro during Q3
2020. Calculated in local currency, the United States and Europe, registered
a net asset growth of 4.3% and 2.7%, respectively. Among the seven largest
regions/countries in terms of net fund assets, Brazil recorded the strongest
growth (5.6%).
Sustained net inflows of
long-term funds at a high level
- Worldwide long-term funds
recorded net inflows of EUR 411 billion in Q3 2020, compared to EUR 387
billion in Q2 2020. Europe and emerging markets accounted for the highest net
sales (EUR 156 billion and EUR 104 billion, respectively), followed by the United
States (EUR 90 billion) and other advanced economies (EUR 61 billion).
- Bond funds attracted the
vast majority of long-term fund sales (EUR 279 billion), mostly in the United
States (EUR 221 billion) and Europe (EUR 65 billion).
- Net sales of equity funds
turned negative (EUR 24 billion), due to large net outflows in the United
States (EUR 124 billion) and despite net inflows in Europe (EUR 45 billion),
other advanced economies (EUR 33 billion) and emerging markets (EUR 23
billion).
- Multi-asset funds recorded
robust net inflows (EUR 100 billion), with China accounting for the lion’s
share of net sales (EUR 91 billion).
Net sales of money market
funds turned negative
- Worldwide money market funds
(MMFs) recorded net outflows of EUR 168 billion, compared to net inflows of
EUR 441 billion in Q2 2020. The reversal of the trend was mainly driven by
the turnaround in the United States, from net inflows of EUR 270 billion in Q2
2020 to net outflows of EUR 197 billion in Q3 2020.
- At
the same time, MMFs continued to attract net inflows in Europe (EUR 41
billion), albeit less strong than in Q2 2020 (EUR 136 billion).
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Please see the  accompanying attachment for the EFAMA
International quarterly statistics (Q3). For media enquiries, please contact: Hume Brophy Brandon Bhatti – Brandon.bhatti@humebrophy.com Paul Andrieu – paul.andrieu@humebrophy.com EFAMA info@efama.org Notes to editors: About
the report The
report for the second quarter of 2020 contains statistics from the following
47 countries: Argentina, Brazil, Canada, Chile, Costa Rica, Mexico, Trinidad
& Tobago, United States, Austria, Belgium, Bulgaria, Croatia, Cyprus,
Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland,
Italy, Lichtenstein, Luxembourg, Malta, Netherlands, Norway, Poland,
Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey,
United Kingdom, Australia, China, India, Japan, Rep. of Korea, New Zealand,
Pakistan, Philippines, Taiwan, South Africa. About the European Fund and Asset Management
Association (EFAMA): EFAMA, the
voice of the European investment management industry, represents 28 Member
Associations, 60 Corporate Members and 24 Associate Members. At end Q3 2020,
total net assets of European investment funds reached EUR 17.6 trillion.
These assets were managed by more than 34,200 UCITS (Undertakings for
Collective Investments in Transferable Securities) and almost 29,400 AIFs
(Alternative Investment Funds). At the end of Q2 2020, assets managed by
European asset managers as investment funds and discretionary mandates
amounted to an estimated EUR 24.9 trillion. More information is available at www.efama.org. |