There were net outflows from UCITS and AIFs (Alternative Investment Funds) in September, reversing the picture for August.

Investors pulled money out of UCITS and Europe-registered Alternative Investment Funds (AIFs) during September, taking out a net €22 billion ($24.9 billion), contrasting with the net influx of €20 billion a month earlier. The figures came from the European Fund and Asset Management Association.

UCITS recorded net outflows of €32 billion, compared with inflows of €2 billion in August, EFAMA said.   

Long-term UCITS (UCITS excluding money market funds) recorded net outflows of €11 billion, compared with net inflows of €8 billion in August, it said.

“Demand for long-term UCITS fell in September in the face of mounting political and trade tensions and pressure on interest rates," Bernard Delbecque, senior director for economics and research, at EFAMA said.

(As a reminder to readers, “UCITS” stands for “Undertakings For The Collective Investment Of Transferable Securities”. UCITS funds can be registered in Europe and sold to investors worldwide using unified regulatory and investor protection requirements. UCITS fund providers who meet the standards are exempt from national regulation in individual European countries.)

Equity funds registered inflows amounting to €4 billion in September, compared with €5 billion in August; bond funds sales remained negative, with net outflows of €10 billion, compared with €2 billion in August. Multi-asset funds sales turned negative in September, with net outflows of €1 billion, compared with net inflows of €6 billion in August. 

UCITS money market funds experienced net outflows of €21 billion, reflecting the cycle of net withdrawals observed in general at the end of each quarter, the data showed.

Net sales of AIFs recorded net inflows of €9 billion, down from €18 billion in August.