A topic widely discussed in the European fund industry is actively managed funds that seem simply to follow an index without adding value for investors, while the management company charges fees for active management—so-called closet trackers. For me it is clear that active funds should add value to investors, either by reducing the risk attached…
DetailsDespite the promoters of ETFs in Europe enjoying net inflows for March, the assets under management in the European ETF industry (€628.3 bn) decreased, down from €632.2 bn at the end of February 2018. The decrease of €3.9 bn for March was driven by the performance of the underlying markets (-€4.7 bn), while net sales…
DetailsWe will be delighted to meet you in Moscow from 10th to 20th April 2018. The three founding partners of Shorex Capital will be speaking at the following events in Moscow this month to address international mobility, relocation issues, residency and citizenship programs. If you would like to get in touch and set up a…
DetailsFebruary was the fourteenth consecutive month showing a positive picture for long-term mutual funds. European fund promoters enjoyed net inflows into equity funds (+€16.1 bn), followed by mixed-asset funds (+€14.0 bn), alternative UCITS funds (+€2.6 bn), and bond funds (+€1.2 bn) as well as commodity funds (+€0.9 bn) and real estate funds (+€0.4 bn). Meanwhile,…
DetailsThe promoters of ETFs in Europe enjoyed net inflows for February. The assets under management in the European ETF industry (€648.3 bn) increased for February, up from €647.2 bn at the end of January 2018. The increase of €1.1 bn for February was driven by net sales (+€10.5 bn), while the performance of the underlying…
DetailsSecurities lending is a widely used technique in the funds industry. Even though it is discussed more intensely in the ETF world, it is also commonly used in mutual funds. The reason for employing securities lending given by fund promoters is always the same: They claim the income from the securities-lending program is used to…
DetailsDespite some disruptions in fund distribution coming from the introduction of MiFID II on January 8, 2018, January was the thirteenth consecutive month showing a positive picture for long-term mutual funds. European fund promoters enjoyed net inflows into equity funds (+€30.2 bn), followed by mixed-asset funds (+€14.0 bn), bond funds (+€10.5 bn), and alternative UCITS…
DetailsThe Editor-in-chief of Les Echos, Lucie Robequain, contacted me at the end of last year to help her write an article on Second Citizenship. Les Echos can be considered as the French Financial Times, though it has of course a smaller audience. We agreed to see each other in Cyprus and my business partner Ilona…
DetailsEuropean Investors Show for 2017 an Increased Appetite for Risk. Looking at the headline figures, the year 2017 could be considered a good year for the European fund industry, since the assets under management (+€10.4 tr) hit an all-time high at the end of December. In addition, the European fund industry enjoyed a new record…
DetailsAn excellent event on citizenship and real estate investment took place last October: The Cannes International Emigration & Luxury Property Expo. All the main citizenship and residency programs were represented and I was invited to deliver a presentation on how to choose a second citizenship that is right for an investor and their family. The aim…
Details