Mon, Feb 19, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Assets invested in Swiss funds rise to CHF615bn in September

Wednesday, October 19, 2011
Opalesque Industry Update - As of the end of September 2011, the total volume of assets in the investment funds covered by the statistics compiled by Swiss Fund Data AG and Lipper stood at CHF 614.7 billion, with Swiss funds for institutional investors accounting for some CHF 221.2 billion of this figure. The latter fund category has gained ground of late, and now makes up more than a third of the overall market. Swiss funds for qualified investors accounted for CHF 163 billion, while just under CHF 55 billion was invested in institutional classes of foreign funds authorized for sale in Switzerland. Institutional investors such as pension funds have to continually seek out investments and cannot simply hope for “better times”, and display lower redemptions than retail funds, if at all.

Unit redemptions rose month-on-month in September, driven by fears of a slowdown in the global economy as well as a deterioration in the EUR crisis. At CHF 4.7 billion, outflows hit their highest monthly total since October 2008. Nevertheless, measured in CHF the volume of assets rose by around CHF 3.6 billion, as the Swiss National Bank’s (SNB) intervention to effectively peg the CHF to the EUR led to an appreciation of all funds denominated in foreign currencies, in particular money market and bond funds. After all, of the total volume on the Swiss fund market, only 48% are denominated in CHF with the other 52% being in foreign currencies, the EUR alone accounting for 26% and the USD 22%.

The SNB’s intervention also meant that equity funds were spared more serious losses in CHF terms, this despite asset withdrawals in the region of CHF 2 billion. By way of comparison, the MSCI World TR Index lost 8.6% in USD terms in September but gained 3.0% in CHF.

Only a few fund categories – such as commodities and precious metals funds, Money Market CHF, and Bond Global Corporates – were able to attract modest amounts of new money. As a result of the slump in precious metals prices, the assets of other funds fell by around CHF 1.9 billion, excluding net asset flows. “This trend confirms the extent of the nervousness among retail investors. With the uncertainty on the markets having exacerbated further, their sense of helplessness increases – and they are apparently are seeking only the safest havens possible for their savings,” said Dr. Matthäus Den Otter, CEO of the Swiss Funds Association SFA. Corporate website: Source

- FG

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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. Chenavari, a $5.4bn hedge fund, told investors it thinks 'we could experience a similar pattern as the 1987 crash'[more]

    From Businessinsider.com: A $5.4 billion hedge fund told clients markets could tumble just like they did in the 1987 crash. In a February 14 letter to clients, London-based Chenavari Investment Managers warned about current market conditions. From the letter (emphasis added): "Our view is that

  2. Investing - Hedge fund Bridgewater makes $22 billion bet against European firms, Hedge funds Steadfast and Suvretta jump onto CSX in fourth quarter, Tepper's Appaloosa boosts Apple, Facebook as others bolt, Third Point buys Netflix and MGM, dumps Bank of America, Moore Capital bought Wynn Resorts, other casino stocks before Steve Wynn resigned[more]

    Hedge fund Bridgewater makes $22 billion bet against European firms From Reuters/USNews.com: Bridgewater has shown its hand in Europe with a $22 billion bet against some of the continent's biggest companies, filings reviewed by Reuters show, part of a bigger shift by the world's largest

  3. Funds Profiles - Brother-run hedge fund up 46% in 2017 says Kelly formula shows diversification is flawed, How a 6,000% profit on a single trade saved a small hedge fund from disaster[more]

    Brother-run hedge fund up 46% in 2017 says Kelly formula shows diversification is flawed From Valuewalk.com: When Jeremy and Michael Kahan consider the notion of diversification, the wince. With a return of 45.8% to end 2017, their stock-picking fund, North Peak Capital, successfully

  4. Investing - Hedge funds hook shipping stocks grappling for recovery, Small cap hedge funds offer alternative for cannabis investing, Top stock-picking hedge funds love gaming, health care and media shares, Hedge funds Steadfast and Suvretta jump onto CSX in fourth quarter[more]

    Hedge funds hook shipping stocks grappling for recovery From Hellenicshippingnews.com: Shipping stocks may still be in the doldrums in the view of many investors, but hedge funds have bet at least $675 million on signs of renewed buoyancy in the industry. Hedge funds made initial f

  5. Outlook - Eaton Vance: Retail volatility products 'the tip of the iceberg' in market turmoil, Quadratic Capital says markets to remain turbulent for some time[more]

    Eaton Vance: Retail volatility products 'the tip of the iceberg' in market turmoil From CNBC.com: While a lot of attention has been paid to retail volatility products that contributed to the recent sell-off, those securities are "just the tip of the iceberg," Eddie Perkin, chief equity i