Belgian fund market assets dropped by 6.6% in Q3

The Belgian asset management association (Beama) has announced net assets in retail funds distributed in Belgium have dropped by 6.6% quarter-on-quarter in Q3 2015.

Assets have amounted to €142.78bn at end September 2015 against €153bn at end June 2015. They remain slightly superior (+0.84%) to net assets recorded at the start of the year (€141.58bn).

According to Beama, the drop can be mainly explained by the fall in prices of underlying assets but it spotted the Belgian fund market started to recover in October in terms of assets.

Fixed income funds have been the most impacted, with assets decreasing by 16.9% to €27.88bn at end Q3 2015 from €33.55bn at end Q2 2015.

Money market funds have benefited from a rise of net subscriptions and saw assets increasing by 189.1% between June (€5.77bn) and September 2015 (€16.68bn).

On the equity segment, assets have dropped by 22.2% qoq and amounted to €38.64bn at end September 2015.

Mixed funds have become the asset class drawing most assets in Belgium, with assets amounting to €48.64bn at end September 2015. The segment has been impacted with a 7.54% fall in assets between June and September 2015. Massive capital moves from equity funds to money markets funds have been observed by Beama.

At end September 2015, Belgium domiciled funds were managing €120.78bn of assets, of which local pension funds accounted for €16.21bn. Pension funds’ assets have dropped by 3.9% qoq. Buybacks have amounted to €76m in Q3.

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