Incisive Research View: Benelux selectors look to equity

Fund selectors in Benelux are planning to increase allocations to foreign and domestic equities, as well as commodities, at the expense of real estate and cash/deposits exposure in 2012.

Benelux fund selectors said specialist managers with a disciplined investment process, a conservative attitude and a minimum three year track record would be their ideal choice, a study produced by Incisive Strategy, the research division of Incisive Media, has revealed.

The survey quizzed 79 fund selectors based in Benelux, of which eight were located in Belgium, 13 in the Netherlands and 58 in Luxembourg.

The majority (65%) worked for companies with over €1bn of assets under management, of which a large proportion (49%) is invested in third party funds. A high proportion (38%) of the selectors worked at companies with over €10bn of assets.

Despite volatile equity markets over 2011, both foreign and domestic equities are the asset class most fund selectors want to increase allocations to.

Nearly half (48%) of respondents said they would increase allocations to foreign equities and another 35% said they would up their domestic equities exposure.

Commodities were also popular with 34% of respondents looking to target the asset class.

These increased exposures are likely to cost managers running cash and property funds. Some 34% of fund selectors said they wanted to decrease cash/deposits exposure, while 24% wanted to reduce property exposure.

Benelux fund selectors had good news for emerging managers.

Although 43% of fund selectors said they required a minimum three year track record, another 32% said this was not necessary.

Of the 43% that require a three year track record, the overwhelming majority (85%) said it could be overlooked if the manager had a proven track record elsewhere.

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