Sun, Dec 11, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Lipper's annual review of funds finds argument for performance fees on absolute return funds doubtful

Wednesday, March 27, 2013

Beverly Chandler, Opalesque London: Lipper’s Matthew Lemieux and Ed Moisson have published the annual review of the European fund industry, finding that sales across Europe totalled €230.4bn ($295bn) for 'long-term’ funds in 2012, the fifth best year for the industry over the last decade (behind 2005-06 and 2009-10). However, the firm writes, redemptions from money market funds totalled -€44.5bn ($56bn) over the year, and when these withdrawals are included the industry’s sales shrink to €185.9bn ($237bn) - only the seventh best total over the past 10 years.

Unsurprisingly the year’s sales were dominated by bond funds with inflows of €225.2bn ($289bn). High Yield bonds and Emerging Market debt funds together accounted for 40% of the net flows into the broader asset class.

Three groups attracted inflows into long-term funds of more than €10bn ($12bn): PIMCO, AXA and BlackRock.

Funds described by Lipper as asset allocation products are funds where the individual managers are able to invest across the spectrum as opportunities arise, often (but not always) with an absolute return targeted as part of an investment objective. Here Lipper finds that interest in such funds has been strongest in the UK over the past year, "but it is interesting to note that 115 asset allocation funds being sold cross-border were launched over the past year, with a further 51 launches of such products speci......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Institutions - Texas County & District culls 5 hedge funds, reallocates to existing managers, Kentucky board gives final approval to halve hedge fund portfolio, $38bn Finnish fund moves assets to U.S. as Europe flounders, South Korea’s National Pension Fund holds 5% stake in 62 listed companies[more]

    Texas County & District culls 5 hedge funds, reallocates to existing managers Texas County & District Retirement System, Austin, continues to reduce the number of hedge funds, but not the size of its $6.2 billion hedge fund portfolio. It will redeem a total of $760 million from five hedg

  2. Opalesque Roundtable: Australian family offices search for good risk adjusted returns, happy to pay for skill[more]

    Komfie Manalo, Opalesque Asia: Australian family offices want foremost good risk adjusted returns, and they are happy to pay for the skill, and in some cases, the limited capacity of an active manager. Jonas Daly, Head of Distribution at B

  3. StepStone announces close of Swiss Capital acquisition[more]

    StepStone Group LP announced it has successfully closed the acquisition of Swiss Capital Alternative Investments AG, one of the leading private debt and hedge fund solutions providers in Europe. The transaction was originally announced in May 2016, and has been in the process of receiving regulatory

  4. Investing - Stephen Cohen investing $275m in free clinics treating veterans' mental health issues, California Resources loses favor with hedge funds[more]

    Stephen Cohen investing $275m in free clinics treating veterans' mental health issues From Healthcarefinancenews.com: …Now, a new chain of free mental health clinics for vets has opened in five cities across the United States to fill the gap. The much-needed new treatment is underwritten

  5. Hedge funds flat in last week of November 'in sympathy with markets’[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were close to flat in the last week of November in sympathy with markets, which took a pause ahead of the OPEC meeting and Italian referendum. The Lyxor Hedge Fund Index was -0.1% as of end November 29 (-1.7% YTD), according to the latest