Inflows in bond funds helped drive positive net sales in Europe, according to new data released by the European Fund and Asset Management Association (EFAMA).

EFAMA has published its latest monthly Investment Fund Industry Fact Sheet, which provides net sales data of UCITS and AIFs for October 2020. 

It has revealed that net sales of bond funds amounted to EUR 16 billion during the month, up from EUR 6 billion in September 2020. Meanwhile, net sales of UCITS and AIFs totalled EUR 33 billion in October 2020, up from EUR 32 billion in the previous month.

Alongside increased net sales figures, UCITS recorded net inflows of EUR 31 billion, compared to EUR 12 billion in September 2020. Long-term UCITS (UCITS excluding money market funds) recorded net inflows of EUR 22 billion, up from EUR 19 billion the month before.

Other areas of the investment industry suffered from less decreased flows. Equity funds recorded net inflows of EUR 4 billion, compared to EUR 17 billion in September 2020, while AIFs recorded net inflows of EUR 2 billion, down from EUR 19 billion the previous month.

Elsewhere, multi-asset funds stayed the course with net inflows of EUR 2 billion, compared to net outflows of EUR 2 billion in September 2020.

Total net assets of UCITS and AIFs decreased by 0.3 percent to EUR 17,602 billion.

Bernard Delbecque, senior director for economics and research said: “Net sales of UCITS equity funds, although remaining positive, fell to a very low level in October against the backdrop of increases in Covid-19 cases and new lockdown measures.”