February 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…
DetailsWithin the European fund industry calculation of fund flows is quite common, since market observers, fund associations, and even fund promoters publish and comment on these numbers to showcase the success of the fund industry and/or single products and to comment on current trends. But for fund promoters it is often a riddle as to…
DetailsEven though the topic of proper classification of mixed-asset funds doesn’t sound like a point of particular interest, it has raised issues for fund promoters, fund selectors, and investors alike. It gathered a lot of interest during the ”Petersberger Treffen,” a conference organized by the German consultant Drescher&Cie in Cologne on December 7, 2017.
European Fund-Flow Trends, October 2017 – October was the tenth consecutive month showing a positive picture for long-term mutual funds. European fund promoters enjoyed net inflows into equity funds (+€17.8 bn), followed by bond funds (+€15.3 bn), mixed-asset funds (+€9.5 bn), and alternative UCITS funds (+€2.7 bn) as well as real estate funds (+€0.2 bn). Meanwhile,…
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