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Dr. Matthäus Den Otter From Komfie Manalo, Opalesque Asia:
The uncertainty of the capital markets, particularly those surrounding the debt issues in the Eurozone and increasingly also in the dollar, in June led to a two percent decline in assets in funds generated and distributed in Switzerland. The Swiss population of funds went from $775.387bn (CHF 638.141bn) to $775.3bn (CHF 637.7bn) of a decline of $535.996m (CHF 441m)
According to the Swiss Fund Association, the prospect of a Greece default weighed heavily against the volume of assets placed in the investment funds in Switzerland, which resulted in the modest outflows for two consecutive months.
The turbulent markets in May saw Swiss investment fund assets fall by $14.023bn (CHF11.8bn) to $776.42bn (CHF653.6bn) or 1.8% compared to the previous month. SFA said the decline in May was caused by the "persistent difficulty in market environment" (See Opalesque Exclusive: here).
SFA CEO Dr. Matthäus Den Otter commented: "Due to the falling prices on the markets, assets under management depreciated in all asset classes in the month under review, dropping a total of CHF 11.8 billion month-on-month. Despite the gloomier outlooks, the Swiss fund market enjoyed net inflows totaling some CHF 876.2 million."
In its latest monthly report, the SFA showed statistics ...................... To view our full article Click here
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