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 category Volumes Oct 2011 Volumes Sept 2011 Change Net inflows/outflows
Equity funds 194,622 186,283 8,339 -820.7
Bond funds 202,010 200,076 1,934 -749.2
Money market funds 83,368 85,782 -2,414 -1,455.90
Asset allocation funds 72,251 71,240 1,011 -235
Other funds 44,272 42,794 1,478 512.5
Real estate funds 25,966 25,908 58 20.2
Total Swiss market 622,489 612,083 10,406 -2,728.10

Market share

Provider Volumes Oct 2011 Volumes Sept 2011 Market share Oct 2011
UBS 143,802 142,406 23.1
Credit Suisse 91,963 90,657 14.77
Pictet 44,006 44,953 7.07
Swisscanto 41,515 41,371 6.67
Swiss & Global Asset Management 29,816 29,249 4.79
Zürcher Kantonalbank 29,170 28,084 4.69
Lombard Odier 16,617 16,501 2.67
Clariden Leu 14,127 14,127 2.27
JP Morgan 12,774 12,415 2.05
BlackRock 10,102 9,635 1.62

  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.


Jonathan Boyd
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