Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Portfolio > Mutual Funds

November saw gains in mutual fund activity

By Warren S. Hersch

X
Your article was successfully shared with the contacts you provided.

The volume of actively and passively managed mutual funds edged up in November of 2013, according to a new report.

Cerulli Associates discloses this finding in the January 2014 issue of the “Cerulli Edge: European Monthly Product Trends.” The report examines monthly products trends, globally and by country, regarding mutual funds, money market funds and new products.

The report reveals that actively managed mutual funds hit €4.669 trillion in November of 2013, up €29 billion from October of 2013. Passively managed assets also rose to €651 billion in November, a 1 percent increase from the month prior.

The report also notes gains in net new flows of long-term mutual funds during the period examined.

“For the third consecutive month, net new flows (NNF) to long-term mutual funds were in positive territory, supported by sustained net inflows to equity funds,” the report states. “November year-to-date NNF of equity and mixed asset funds were almost on par with NNF to bond funds.”

Turning to pan-European real estate funds, the research shows vehicles increased in value during the third quarter of 2013, attaining 1.9 percent, the highest quarterly level since March of 2011.

The report observes, however, that some real estate funds performed less than optimally.

“Spanish funds have had a torrid time with many retail funds still in wind-down mode,” says Barbara Wall, Europe research director at Cerulli Associates. “German funds were also hard hit, caught out by redemption requests and liquidity issues.

“Many German funds have closed their doors to redemptions — for some funds, the move has been permanent,” she adds. “That has led to a divergence in performance between the zombies and the survivors.”

The Cerulli report records 13 launches, 19 closures and 4 mergers among European property funds as of November 2013. This compares with 25 launches, 23 closures and 7 mergers in all of 2012. 

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.