21/09/2011
By Matt Ritchie
The difficult conditions which ruled markets in August saw the volume of assets placed in Swiss funds fall by 2 per cent, according to statistics from the Swiss Funds Association.
As at the end of August, the total volume of assets in the investment funds covered by the statistics stood at CHF 608.3bn, compared with CHF 619.5bn the month before.
Swiss funds for institutional investors accounted for some CHF 217bn of the August figure.
The SFA said against the backdrop of the ongoing currency crisis, the strength of the CHF and negative market developments, assets under management depreciated by around CHF 11.2bn, or 2 per cent, in August. Despite the market turbulence, this depreciation was lower than in previous months.
Net outflows of around CHF 3.4bn were largely attributed to profit taking in the bond fund segment.
The “other funds” category posted a performance gain of CHF 2bn, while bond funds were up CHF 1.1bn. Equity funds recorded the heaviest losses, down CHF 10.6bn. Asset allocation funds fell CHF 1.1bn.
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