For immediate release

​News of vaccines drove record net sales of UCITS equity funds 
in November


Brussels, 21st January 2021 - The European Fund and Asset Management Association (EFAMA) has today published its latest monthly Investment Fund Industry Fact Sheet, which provides net sales data of UCITS and AIFs for November 2020*. 

Bernard Delbecque, Senior Director for Economics and Research commented: “Net sales of UCITS equity funds soared to an unprecedented EUR 59 billion in November 2020, surpassing the previous record of EUR 48 billion set in January 2018.  This exceptional outcome was initiated by the confidence and hope of investors that the arrival of the first COVID-19 vaccines would mark the end of the pandemic and lead to the return of sustained economic growth.”


Source: EFAMA Fact Sheet November 2020

The main developments in November 2020 can be summarized as follows:

  • Net sales of UCITS and AIFs totalled EUR 78 billion, up from EUR 33 billion in October 2020.

  • UCITS recorded net inflows of EUR 75 billion, compared to EUR 31 billion in October 2020.

    • Long-term UCITS (UCITS excluding money market funds) recorded net inflows of EUR 72 billion, up from EUR 22 billion in October 2020. 

      • Net sales of equity funds amounted to EUR 59 billion, up from EUR 4 billion in October 2020.

      • Bond funds recorded net inflows of EUR 8 billion, down from EUR 16 billion in October 2020. 

      • Multi-asset funds recorded net inflows of EUR 4 billion, up from EUR 2 billion in October 2020.

    • UCITS money market funds recorded net inflows of EUR 4 billion, down from to EUR 9 billion in October 2020.
  • AIFs recorded net inflows of EUR 3 billion, up from EUR 2 billion in October 2020.
  • Total net assets of UCITS and AIFs increased by 4.4% to EUR 18,385 billion.

– Ends –

*29 associations across Europe representing 98 percent of total UCITS and AIF assets in Europe provided EFAMA with net sales data for the month.

Please see the accompanying attachment​ for the EFAMA Investment Fund Industry Fact Sheet November and the ‘Notes to editors’ section for further information on how the Fact Sheet is produced.

For media enquiries, please contact:

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Notes to editors:

About the November Monthly EFAMA Investment Fund Industry Fact Sheet:

The Fact Sheet is published by EFAMA monthly and presents net sales and net assets data for UCITS and AIF provided by 29 national associations. The contributing national associations are Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Liechtenstein, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Switzerland, Turkey, and United Kingdom.

About the European Fund and Asset Management Association (EFAMA)

EFAMA, the voice of the European investment management industry, represents 28 member associations, 57 corporate members and 23 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, asset managed by European asset managers as investment funds and discretionary mandates amounted to an estimated EUR 24.9 trillion.  More information available at

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