29/10/2009
By Sophie Baker
The second quarter of 2009 (Q2 2009) has brought with it good news for investment fund assets worldwide with records showing a 5.4 per cent increase to €14.39trn.
Net cash flow to all funds was €84bn in the second quarter, compared to €46bn in the first, and net inflows to long-term funds were €240bn in Q2, following a cumulative outflow of €425bn over the previous three quarters.
A report by the European Fund and Asset Management Association (EFAMA) contains these figures and was compiled with the Investment Company Institute on behalf of the International Investment Funds Association.
Flows into equity funds were €68bn, and into balanced/mixed funds €26bn. Money market funds, however, experienced net outflows of €156bn in Q2 2009, following cumulative net inflows of €405bn over the previous three quarters.
At the end of Q2 2009, 36 per cent of worldwide investment fund assets were held in equity funds, and the asset share of bond funds was 19 per cent. The asset share of balanced/mixed funds was ten per cent, and money market fund assets accounted for 28 per cent of the worldwide total.
In terms of the number of mutual funds worldwide, this stood at 66,472 at the end of Q2, with 39 per cent equity funds, 22 per cent balanced/mixed funds, 18 per cent bond funds, and five per cent money market funds. Europe represented 31.5 per cent of investment fund assets in terms of worldwide distribution, but when taking non-UCITS assets into account, this increased to 38 per cent.
