Fund volumes drop in Switzerland, industry statistics show

Latest figures published by the Swiss Funds Association (SFA) show assets under management dropped CHF11.8bn as of 31 May compared to the previous month.

Total assets under management according to the figures stood at CHF653.6bn. Net inflows through the month were CHF876.2m.

Funds for institutional investors accounted for CHF231.2bn of the overall AUM figure. The SFA said that the fall in AUM was the result of market conditions.

The Association said that the month saw large flows of new money into high yielding bond funds, particularly those focussed on emerging market and high yield bonds. Net inflows to bond funds hit CHF1.3bn.

However, net outflows were seen in the area of dollar money market funds, and commodity funds. This was the result of a weaker dollar and a fall in precious metals prices at the start of May.

The SFA figures cover all funds authorised by local regulator FINMA, as well as foreign funds authorised for public sale in Switzerland. Foreign funds restricted to qualified investors are not covered.

Provider Market share
May 2011(%)
UBS  22.95
Credit Suisse 15.00
Pictet 7.05
Swisscanto 6.85
Swiss & Global Asset Management 4.70
Zürcher Kantonalbank 4.08
Lombard Odier 2.69
Clariden Leu 2.40
JP Morgan 2.07
Bank Sarasin 1.54

Source: SFA, share by AUM

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