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Matthäus Den Otter, chief executive, SFA

Swiss fund assets total CHF712bn in December 2012

The volume of assets in the Swiss funds industry reached CHF712bn in December 2012, according to figures released by the Swiss Funds Association (SFA).

Although this corresponds to a drop of CHF6bn month-on-month, over the year as a whole fund volumes rose by more than CHF80bn (around 13 per cent).

The volume of assets entrusted by investors in Switzerland to the fund industry came to CHF711.9bn in December 2012 (November: CHF718.0bn), compared with a figure of just CHF631.0bn recorded at the end of 2011. Funds for institutional investors accounted for CHF283.8bn of the total of about CHF712bn.

Thanks to the positive performance on the key markets, fund volumes rose by a 13 per cent. As regards net inflows of assets, there is still a certain reticence discernible among investors.

“Bond funds attracted the most new money, while money market funds posted the heaviest outflows, albeit with this trend clearly flattening off towards the end of the year,” says Dr Matthäus Den Otter (pictured), chief executive of the Swiss Funds Association SFA.

In December 2012, the inflows into bond funds were exceeded by the marked withdrawals in the case of money market funds, resulting in a decrease in the overall volumes. By comparison, the figures for selected indexes in December 2012 were as follows: Dow Jones +0.60 per cent (yoy: over seven per cent), S&P 500 +0.71 per cent (yoy: over 13 per cent), and SMI +0.03 per cent (yoy: just under 15 per cent). The CHF fell 0.29 per cent against the EUR, but gained 1.64 per cent against the USD.

Net asset flows amounted to - CHF98.8m in December 2012. Bond funds led the way in terms of inflows with CHF1,517.8m, while equity funds attracted new money totalling CHF344.7m. After a lengthier period of outflows, asset allocation funds also saw investments being made again (+ CHF215.7m). Money market funds continued to suffer marked outflows (- CHF1.9bn). There were also net withdrawals from alternative investments, commodities funds, and funds in the “other funds” category.

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