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Swiss funds see modest drop in fund assets in June

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The volume of assets placed in Swiss investment funds stood at around CHF637.7 billion in June according to the latest figures released by the Swiss Funds Association. The uncertainty on the capital markets, particularly surrounding the debt problems in the eurozone and increasingly also in the dollar area, thus led to comparatively modest net outflows of CHF441 million.

As of the end of June 2011, the total volume of assets in the investment funds covered by the statistics compiled by Swiss Fund Data AG and Lipper stood at CHF 637.7 billion, with Swiss funds for institutional investors accounting for some CHF 226.2 billion of this figure. All in all, the assets under management fell by CHF 13.6 billion.

Despite the deterioration in the environment, net redemptions by investors were happily limited, totaling CHF 441 million. Redemptions in the case of money market, bond and asset allocation funds were offset by new subscriptions for precious metal and commodity funds, and equity funds.

As regards the developments in the individual investment currencies, there was – unsurprisingly – a flight into the Swiss franc (new money totalling over CHF 881 million flowed into CHF-denominated funds). JPY-denominated funds were also in demand again. Meanwhile EUR-denominated funds suffered heavy outflows, as did USD and GBP-denominated products.

The trend among the fund domiciles is also interesting. While Swiss funds (retail and institutional products) posted inflows of CHF 1.5 billion, Luxembourg funds recorded outflows of CHF 1.6 billion.

Funds investing in precious metals boasted the most subscriptions (+CHF 697 million), closely followed by equity funds (+CHF 656 million). Looking at the top 50 fund types by investment strategy, bond funds in CHF stood at nearly CHF 68 billion, and were thus able to slightly expand their lead on global equity funds and Swiss equity funds.

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