Swiss market recovers slightly in October – SFA statistics

The Swiss funds market made a slight recovery in October, as calculated by assets under management, reports the Swiss Funds Association (SFA)

AUM increased by more than CHF10bn to about CHF623bn, the SFA reports. Net outflows were CHF2.7bn, against CHF5bn in September.

Institutional investors accounted for CHF224.6bn of the total October-end figure. The improvement in overall AUM is “almost exclusively attributable to market performance”, the SFA said.

 Swiss fund market October 2011

Fund categoryVolumes Oct 2011Volumes Sept 2011ChangeNet inflows/outflows
Equity funds194,622186,2838,339-820.7
Bond funds202,010200,0761,934-749.2
Money market funds83,36885,782-2,414-1,455.90
Asset allocation funds72,25171,2401,011-235
Other funds44,27242,7941,478512.5
Real estate funds25,96625,9085820.2
Total Swiss market622,489612,08310,406-2,728.10

Market share

ProviderVolumes Oct 2011Volumes Sept 2011Market share Oct 2011
UBS143,802142,40623.1
Credit Suisse91,96390,65714.77
Pictet44,00644,9537.07
Swisscanto41,51541,3716.67
Swiss & Global Asset Management29,81629,2494.79
Zürcher Kantonalbank29,17028,0844.69
Lombard Odier16,61716,5012.67
Clariden Leu14,12714,1272.27
JP Morgan12,77412,4152.05
BlackRock10,1029,6351.62

  Source: SFA, all figures in CHFm

Matthäus Den Otter, CEO of the SFA said: “Unlike other years, October 2011 was not a ‘Shocktober’ for the stock markets. On the contrary, thanks to a rebound on the equity markets and the effect of a further slight weakening in the CHF, the fund market staged a recovery.”

Commodities funds attracted the most new money, CHF667.3m, continuing a trend seen in recent months, the SFA said.

“They are now the fourth largest fund category after CHF Bonds, Equity Global and Equity Switzerland. Two years ago, they ranked thirteenth. Dollar high-yield funds also appear to be back in greater demand among investors, with inflows of CHF333.7m. Equity Eurozone and Equity Germany also attracted new money – CHF222.8m and CHF139.1m respectively.

 

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