Dutch fund assets decline by -4.5% in Q2 2015

Assets managed by Dutch investment funds have declined for the first time in two years, according to data presented by Dutch Central Bank DNB.

In the second quarter of 2015, total assets managed by Dutch investment funds fell by €36.4bn or -4.5% compared to the previous quarter, from €808bn to €772bn.

The largest declines were reported in equity and bond funds, shedding €22.1bn (-7.4% quarter-on-quarter) and €13.5bn (-4.8% quarter-on-quarter) respectively.

According to DNB, the decline of invested assets was predominantly caused by a combination of price and exchange rate effects, which let to to a -3.1%  drop in value of investments.

The negative results were somewhat mitigated by €5.5bn in income from interest and dividends, which is generally allocated in the second quarter of the year.

The fall in invested assets was predominantly caused by a drop in value of the investments amounting €24.4bn (-3.1% of total assets). This was driven by combined price and exchange rate effects, which were most prominent among bond funds (€12.9bn, -4.8%) and equity funds (€11.7bn, -4.2%)

Institutional investor’s withdrawals were a key factor behind the recent decline, with pension funds withdrawing €4.7bn on balance, and insurers €1.5bn on balance.

Recent changes in asset allocation also confirmed that Dutch investors are increasingly bearish, while equity funds faced €14.0bn (-5.1%) in net withdrawals, bond funds registered net increases (€2.8bn, +1.0%), as did ‘other funds’ (€4.9 bn, +5.6%).

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