Slight decline in Swiss fund market volume in May

The volume of assets placed in investment funds covered by the statistics in May came to some CHF664bn, down just under CHF4bn month-on-month.

Money market funds and bond funds each posted inflows in excess of CHF1bn, according to data compiled by Swiss Fund Data AG and Lipper.

Funds for institutional investors accounted for CHF256.5bn of the total of about CHF664bn.

“The Swiss fund market is marking time somewhat at present. The resurgent fears over the euro crisis and the economic recovery in the US have pushed the key indexes into negative territory. The strengthening of the US dollar against the Swiss franc lent support,” said Matthäus Den Otter (pictured), CEO of the Swiss Funds Association SFA.

By comparison, the figures for the major indexes were as follows: Dow Jones -6.21%, S&P 500 -6.27%, and SMI -4.04%. The EUR lost 0.02% against the CHF, while in the case of the USD there was an appreciation of +7.12%.

Net inflows totalled CHF1.0bn in May 2012. Of the total fund volume, no less than the equivalent of just under CHF155bn was held in funds denominated in US dollars, and just under CHF159bn in Euro denominated funds. Dollar denominated funds accounted for virtually all of the new money.

Both money market funds and bond funds posted net inflows as a result of the nervousness among investors. Equity funds and commodity funds in particular suffered outflows.

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