14/06/2012
Outflows and losses on the menu for equity funds in May
There has been mutual contagion and free flow between French-registered mutual funds. In May, assets in the money market fund category continued to rise, by 2.54%, while assets under management in equity funds lost 6.24%. There is one consistent point in this family: all categories observed have seen a decline in assets, under the combined effect of outflows and losses on the market. In figures, according to Europerformance (a SIX Company), the treasury fund category in May gained EUR4.7bn, of which EUR4.663bn went to “regular” money market funds. For funds investing in equities, the situation is quite different: overall, assets fell by EUR2.41bn, with funds investing in Europe particularly severely affected. Net outflows in the month of May alone totalled EUR1.23bn, which, with the addition of a market effect of 05.90%, puts the decline in assets under management at 7.13%.Funds investing in US equities, for their part, had the most limited outflows: they show outflows of EUR246.08m, while the europerformance index shows a decline of 0.38%, leading to a negative impact on assets of 3.42%.Between these two extremes, Asia/Pacific equity funds have seen net outflows of EUR191.56m, leading to a 5.81% impact on assets, taking into account negative market effects of -3.77%.
