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Swiss fund market virtually flat in November

The volume of assets placed in Swiss investment funds stood at CHF706bn in November, a slight drop of CHF2bn month-on-month, according to statistics compiled by Swiss Fund Data and Lipper.

Net inflows totalled more than CHF650m.

The volume of assets entrusted by investors in Switzerland to the fund industry came to CHF706.1bn in November 2012. This compares with a figure of CHF708.2bn for October. Funds for institutional investors accounted for CHF281.9bn of the total.

“As has been the case over the past three months, the statistics showed a very flat trend. In keeping with the developments over the year as a whole, bond funds attracted the most new money while money market funds suffered the heaviest outflows. However, what is striking here is the waning in this trend. There appears to be a change in the offing,” says Matthäus Den Otter, chief executive of the Swiss Funds Association SFA.

By comparison, the figures for selected indexes were as follows: Dow Jones -0.54 per cent, S&P 500 +0.28 per cent, and SMI +3.42 per cent. The CHF strengthened slightly by 0.17 per cent against the EUR and 0.48 per cent against the USD.

Net inflows amounted to CHF653.5m in November 2012. Bond funds led the way with inflows totalling CHF971.9m, although the growth curve flattened somewhat. Equity funds attracted a total of CHF752.7m in new money. Commodities funds, funds in the “other funds” category, and real estate funds also enjoyed inflows, albeit to a lesser extent. Money market funds continued to suffer marked outflows (CHF-1.1bn). There were also net withdrawals in the case of asset allocation funds and alternative investments.

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