The European Fund and Asset Management Association (Efama) on 26 February 2025 published its latest monthly investment fund industry fact sheet, which includes .

After €1.55bn of inflows in October and , Luxembourg alternative investment funds (AIFs) recorded €20.728bn of net outflows in December 2024. That’s the largest amount of outflows seen in two years.

Undertakings for collective investment in transferable securities (Ucits) domiciled in the grand duchy recorded €25.238bn of net inflows in December, said Efama’s factsheet. That comes after €5.835bn of net inflows in November.

Ireland: outflows for AIFs, inflows for Ucits

Irish alternative investment funds saw €2.259bn of outflows in December.

Ucits in Ireland attracted €35.414bn of inflows in December, which comes after €73.189bn of inflows the previous month.

European level: €77.5bn of net inflows for Ucits

Ucits overall attracted net inflows of €77.55bn in December, noted Efama, down a bit from €82bn in November. AIFs recorded net inflows of €2.197bn, down from €13.1bn the month before. The total net assets of Ucits and AIFs decreased by 0.01% and now sits at €23.472trn.

“Despite global stock markets edging lower, net sales of equity Ucits rose to a new 44-month high in December 2024,” said Thomas Tilley, senior economist at Efama, commenting on the December 2024 figures. “This was thanks to strong net inflows into equity ETFs [exchange-traded funds], in addition to non-ETF equity funds returning to positive territory after being negative for most of the year.”

The industry association’s monthly factsheet covers 24 EU countries, as well as Liechtenstein, Norway, Switzerland, Turkey and the United Kingdom.

Find Efama’s full investment fund industry factsheet for December 2024 .