18/08/2011
By Matt Ritchie
“Persistently difficult” market conditions are to blame for a fall in the volume of assets placed in Swiss funds in July, according to new statistics from the Swiss Funds Association.
Statistics compiled by Swiss Fund Data AG and Lipper show volumes placed in investment funds fell just under five per cent to approxiately CHF 620 billion in July, while net inflows amounted to around CHF 545 million.
Swiss funds for institutional investors accounted for some CHF 222.5 billion, or 36% of total volumes.
The association said assets under management depreciated in all asset classes in July, dropping around CHF 30 billion month-on-month. The fall was attributed to the “ongoing currency crisis”, the strength of the Swiss franc, and “negative” market developments.
“Other” funds, commodities in particular, continued to enjoy inflows at CHF 683 million. Bond funds also recorded inflows, of CHF 466 million, while equity funds saw inflows of CHF 297 million.
However, the association highlighted “major differences” between fund classifications, as equity emerging markets global, equity Japan, equity North America and others recorded inflows, though there were “massive” outflows in equity Eurozone due to uncertainty over the future of the Eurozone.
The largest outflows were from money market funds, at CHF 485.5 million, and asset allocation funds at CHF 422 million.
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