Mon, Aug 29, 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. Strategies - The 'Holy Grail' hedge fund strategy to handle a black swan the size of World War I, Hedge funds get more pushback on terms as enthusiasm for strategy wanes[more]

    The 'Holy Grail' hedge fund strategy to handle a black swan the size of World War I From IBTImes.co.uk: To illustrate a strategic gap common to today's portfolio managers, George Sokoloff, PhD, founder and CIO at Carmot Capital, proposes an interesting thought experiment – a breakdown of

  2. Institutional investors - Investors set to increase allocation to private debt, With investment income key, Richmond retirement system faces funding challenges[more]

    Investors set to increase allocation to private debt Investors are set to increase their allocation to private debt, with 60% revealing they believe the private debt market will grow over the next 12 months, according to a new study by Elian, a leading funds services provider. 41%

  3. Investing - Hedge funds snap up banks, unload Apple, Some of hedge funds' favorite stocks are finally starting to beat the market, Einhorn's Greenlight shifts positions, Treasury yield climbs to two-month high as Fischer joins hawks, 9 stocks smart investors put their money in last quarter[more]

    Hedge funds snap up banks, unload Apple From Barrons.com: Prominent hedge funds have a newfound love of big banks, and some have a distaste for shares of Apple, regulatory filings released last week show. The filings suggest that the funds have been pivoting their portfolios in recent mon

  4. Chesapeake energy seeks $1 billion loan to refinance debt[more]

    From Bloomberg.com: Chesapeake Energy Corp. is seeking a $1 billion loan as the company battered by cratering fuel prices and credit downgrades takes a step to address its $9 billion debt load. The natural gas producer hired Goldman Sachs Group Inc., Citigroup Inc. and Mitsubishi UFJ Financial Group

  5. Institutions - Nordic pension funds magnify focus on unlisted and direct investing, building up teams[more]

    From IPE.com: As bond yields remain at low or negative levels, pension funds and other institutional investors in the Nordic region are stepping up efforts to find higher returns by adding more unlisted investments to portfolios and are expanding in-house teams in order to do this, according to new