European investors poured €124bn (£112bn) into investment funds in July – up by nearly 15% on June’s figures, according to the European Fund and Asset Management Association (EFAMA).
The EU trade body's monthly fund flows data reported that flows into UCITS funds accounted for €109bn of this total, up from €100bn the previous month. However, sales were dominated by money market funds, reflecting uncertainty about the path of the global recovery from the Covid-19 pandemic. Money market funds brought in €59bn during July, up from €48bn the previous month. Equity and bond funds reported inflows but in both cases the figures were lower than June. Sanlam launches Conservative multi-asset fund for CIO Smeaton Equity UCITS funds brought in €13bn of net new money, d...
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