Swiss funds market reaches five-year high in June

June has seen the Swiss fund market reach its highest point in five years, growing to CHF671bn from CHF666bn the previous month.

This growth can be attributed in part to the positive performance of the exchanges, with the Swiss Market Index up 3.7%, and the Standard & Poor’s Index up 4%. Equity funds have contributed CHF4bn in flows to this positive performance.

The euro relief rally has also boosted investor confidence. Consequently, half of the increase in assets has been attributed to new subscriptions. Net inflows in June amounted to CHF1.9bn, with new money predominantly subscribed to Swiss franc and US dollar-denominated funds.

Matthäus Den Otter, chief executive of the Swiss Funds Association, said: “Caution is still required looking to the coming months. After all, it was exclusively bond, commodities and money market funds that attracted new money. Investors remain unsettled, a fact reflected in the redemptions of nearly CHF 800m in the case of equity funds and CHF 279m for asset allocation funds.” 

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