European fund industry moves towards consolidation, says Lipper

The European funds market is consolidating, with 698 funds withdrawn from the market during the first quarter of 2012, according to research by data provider Lipper.

At the end of March, mutual funds registered for sale in Europe were 32,158.

The net number of funds available for sale decreased by 1,032 funds year on year, as 493 funds were liquidated and 205 were withdrawn following a merger.

During the same period, only 506 new products were launched, the lowest number for the first quarter results of the last five years. 

Compared to the first quarter of 2011, the number of liquidations went up about 11%, driven by the industry’s continued focus on fund range consolidation to reduce ongoing costs, according to the company.

Luxembourg continued to dominate the fund market in Europe, hosting 8,439 funds, followed by France, with 4,743 funds.

Equity funds still dominated the scene with 37% of the funds available for sale, followed by mixed-asset funds at 24%.




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