Swiss funds market breaks through CHF 700bn barrier

Assets in the Swiss funds market have passed through the CHF 700bn barrier, according to the Swiss Funds Association.

In September 2012, the volume of assets placed in the investment funds covered by the statistics reached some CHF 710bn, an increase of CHF 7.4bn month-on-month.

At the end of September 2012, the total volume of assets in the investment funds covered by the statistics (covering 95% of the funds distributed in Switzerland) stood at CHF 709.8bn, compared with CHF 702.4bn in August. Of this figure of almost CHF 710bn, Swiss funds for institutional investors accounted for CHF 277.9bn.

Net inflows totaled CHF 284.5m in September 2012. Equity funds attracted CHF 233,349m, or a net inflow of CHF 145m. As in the previous month, bond funds attracted the most new money (CHF 2.5bn). Money market funds, meanwhile, suffered massive outflows of CHF 2.4bn. Commodities saw net inflows of CHF 135m and the remaining fund categories showed no significant changes in the month under review.

The top ten funds providers are UBS, with a market share of 23.25%, Credit Suisse (16%), Pictet 7.4%, Swisscanto (5.9%), Zurcher Kantonalbank (5.15%), Swiss & Global AM (4.68%), Lombard Odier (2.77%), JP Morgan (2.08%), BlackRock (1.96%) and Zurich (1.58%).

Matthäus Den Otter, chief executive of the Swiss Funds Association, said: “Funds have benefited since the start of the year from the positive trend on the relevant stock markets, which have posted gains almost on a monthly basis. Their total volume now stands clearly above CHF 700bn. The upbeat stock markets could have a positive impact on investor confidence and increase investors’ risk appetites, although most are still taking a cautious approach to equity exposure.

“Marked outflows from money market funds are another factor supporting this view. These are used primarily as safe havens in times of uncertainty, and demand for them in this role appears to be low at the moment,” he said.

By comparison, the Dow Jones grew 2.65%, S&P 500 2.42%, and SMI 1.69%. The CHF appreciated by 0.62% against the EUR but depreciated by a further 1.83% against the USD.

The statistics, compiled by Swiss Fund Data AG and Lipper, are based on the FINMA authorization list and cover all funds under Swiss law as well as all foreign funds authorized for public sale in Switzerland, including their institutional unit classes. Foreign funds restricted exclusively to qualified investors are not covered by the statistics given that these products are only placed privately and cannot receive FINMA authorization.

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