UCITS funds suffered net outflows of €23 billion in May, according to the latest research from the European Fund and Asset Management Association (EFAMA). And for the first time since March 2009, long-term UCITS funds - those excluding money-market funds — experienced net outflows, totaling €8 billion, the association says.
Despite the May outflow, long-term UCITS funds have seen net inflows of €108 billion over the first five months of 2010.
EFAMA's May fund industry factsheet gathered figures from 23 associations representing more than 97% of total UCITS and non-UCITS assets in their respective countries. Total assets in UCITS