European mutual fund industry still consolidating fund ranges, says Lipper
The European mutual fund industry is still consolidating its fund ranges, according to the latest Lipper research report on the sector.
The results of the second quarter show that a total of 712 funds (471 liquidations and 241 mergers) were withdrawn from the market, while only 404 new products were launched.
According to the report the European fund industry is further decreasing its product offerings. The number of newly-launched funds (404) has further decreased, while the number of fund mergers and closures remained within their normal pattern.
Equity funds showed the highest number of liquidations (166) and mergers (90), while bonds were the most popular asset class for newly-launched funds (121).
The data does not show a trend towards a single sector or asset type in terms of liquidations and mergers.
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