· UCITS posted net inflows of EUR 22 billion in the first quarter of 2009. This outcome contrasted with the net outflows recorded by UCITS during six consecutive quarters following the outbreak of the global financial crisis during the summer of 2007. · A sharp deceleration of net outflows from equity funds and bond funds, as well as strong net inflows into money market funds, characterized the developments in the UCITS industry in the first quarter of 2009. The sentiment that the global financial system had been spared a systemic collapse and that massive effort by governments and central banks had limited the risk of a depression contributed to stop panic sales of shares and bonds in general, and investment funds in particular. As money markets started to recover from the shock waves from the bankruptcy of Lehman Brothers, money market funds regained their status of safe haven investment.
· The evolution of monthly net sales of UCITS confirms that investor fear about financial assets receded sharply after the financial panic of October, leading to net positive inflows into equity and bond funds in January. Even if new market turbulence in February and March unnerved investors again, the outflows remained small, suggesting that the negative dynamics that operated between the start of the financial crisis and October 2008 has lost momentum.
· Total net assets of UCITS fell by 1.4 percent in the first quarter to reach EUR 4,494 billion at end March 2009. Equity and balanced funds recorded the sharpest decline reflecting stock market losses.
· The combined assets of the investment fund market in Europe, i.e. the market for UCITS and non-UCITS, fell by 1.4 percent in the first quarter to reach EUR 6,022 billion at end March 2009.
Den gesamten Quartalsbericht Q1 2009 finden Sie als PDF-Download in unserem Info-Center!
