It is no secret that the European fund market is quite fragmented in some areas. But when it comes to the market concentration of fund domiciles, the picture changes from fragmented to rather concentrated. According to our European fund market report for Q1-2018, there were 34 fund domiciles in Europe, accounting for 10.54 trillion euros…
DetailsWhile observing the current active/passive fund debate, one could get the impression that investors must make the decision of investing either passively or actively in their portfolios. The talking points of each type of investment are often praised as a kind of dogma.
Looking at the headline figures, first quarter 2018 could be considered a business-as-usual quarter for the European fund industry, since the assets under management (+€10.5 tr) hit a new all-time high at the end of March. After a year of record inflows the European fund industry enjoyed further net inflows of €81.5 bn over the…
DetailsWhile observing the discussion around ETFs, especially in Europe, I become a bit concerned that the critiques are getting too tired—pundits seem to be going over the same topics again and again. In some cases the arguments have been proven wrong or are the result of the nature of the investment products. To give an…
DetailsA 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…
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