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Swiss fund market stable at just under CHF700bn

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Assets under management in Swiss investment funds reached CHF699bn in August, an increase of CHF4.8bn month-on-month, according to the Swiss Funds Association.

At the end of August 2012, the total volume of assets in the investment funds covered by the statistics compiled by Swiss Fund Data and Lipper stood at around CHF699bn, compared with CHF694.2bn in July.

Of this figure of just under CHF700bn, Swiss funds for institutional investors accounted for CHF273.3bn.

“There was a relatively stable development in the month under review. The equity markets showed more of a sideways trend. Currency effects – which were still having a strong influence in July – were almost entirely absent as the CHF recovered against the EUR and USD. It therefore comes as no surprise that fund volumes remained roughly on a par month-on-month in August,” says Matthäus Den Otter, chief executive of the Swiss Funds Association.

By comparison, the figures for selected indexes were as follows: Dow Jones +0.63 per cent, S&P 500 +1.98 per cent, and SMI -0.18 per cent. The EUR and USD lost 0.02 per cent and 2.26 per cent respectively against the CHF.

Net inflows totalled CHF2.2bn in August 2012. Bond funds attracted the most new money (CHF2.3bn), followed by money market funds (CHF498m) and commodities funds (CHF366m). There were outflows from asset allocation funds (CHF179m) and especially equity funds (CHF755m). The following equity fund categories suffered outflows in particular: UK, US, global, and emerging markets global.

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