EUROPE - Long-term UCITS funds attracted €19bn (US$27.4bn) in assets in November, marking the eighth consecutive month of gains, according to new data by the European Fund and Asset Management Association.
The flows into the Undertakings for Collective Investment in Transferable Securities (UCITS) show European investors remain confident about a recovery in the global economy, EFAMA said. Regardless, fund inflows slowed by nearly 30% from the previous month, when inflows totalled €27bn.
Net outflows from UCITS funds peaked in March with €21bn coming out of these funds.
Net withdrawals from money-market funds also continued as investors sought higher-returning assets. Some €12bn left money market UCITS funds in November versus €18bn of outflows in October.
The largest outflows from money market funds came in June when €26bn leaked out.
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