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Global Mutual Fund FlowWatch - November 2011 Results (Jan 20 2012)
Globally, equity/mixed, bond and other long-term mutual funds saw $30 billion in net redemptions during November, the fourth consecutive month of outflows. Europe (including cross-border funds) was the only region experiencing large outflows ($38 billion) due to renewed concerns over Europe's debt crisis, while all other regions were able to collect positive, albeit small inflows: Brazil led the way collecting $4 billion in new money, followed by the US with $2 billion; Asia and Canada each contributed around $1 billion in net flows for the month.
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Asia FlowWatch - November 2011 Results (Jan 16 2012)
Excluding money market products, long-term fund flows in Asia were essentially flat, with $0.5 billion during November. Although Japan experienced $3.6 billion in net redemptions, fund flows were balanced by $2.2 billion from new fund contributions in China, and the continuous progress in smaller South East Asian markets – Thailand and Malaysia, $0.9 billion and $0.4 billion, respectively. (Please note that for India and China, existing funds report assets on a quarterly basis, thus are excluded in the flow calculations.) Moreover, new launches in the region topped the best-selling list, led by Nomura’s Global High Dividend Equity Premium Fund ($1 billion) and followed by two China funds – MinSheng Royal Booming Industrial Equity Fund ($500 million) and BOC Small & Middle Cap Equity Fund ($480 million).
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Europe FlowWatch - November 2011 Results (Jan 16 2012)
During the month of November, long-term funds saw continued outflows in both local Europe (Euro 11 billion) and the international cross-border space (Euro 17 billion), totaling Euro 28 billion in net redemptions – Euro 12 billion higher than the outflows in October. Nevertheless, a few products still attracted sizable flows in this uncertain economic and political environment. Swedbank Robur Transfer 80, a target maturity fund under the Swedish Premium Pension scheme, garnered Euro 0.8 billion from individual accounts in November, while Zuercher Kantonalbank’s Gold ETF and Deutsche DWS’s Bond Flexible gathered Euro 0.6 billion and 0.5 billion in net flows, respectively, for the month.
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CEO Thought Leader Series: Going Global - The FundForum USA 2011 Interview (Dec 05 2011)
This report highlights views from a thought leadership discussion around the opportunities and challenges of running a global fund management business, conducted at the 2011 FundForum USA event in Boston with Vijay Advani, EVP Global Advisory Services at Franklin Templeton, Massimo Tosato, Executive Vice Chairman at Schroders, and Daniel Enskat, Head of Global Consulting at Strategic Insight.
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Latin America in Global Asset Management (Nov 21 2011)
Latin America’s mutual fund industry could reach between $2.8 and $3.6 trillion in assets by the year 2020, while its pension fund assets could approach $3 trillion — a total of over $6 trillion, depending on the global market environment in the coming years. This commentary provides highlights from Strategic Insight’s new in-depth study: State of the Asset Management Industry – Latin America, with results of a year's worth of time spent on the ground with asset managers, regulators, associations, and distributors in Brazil, Mexico, Peru, Chile, Colombia, Uruguay, and Venezuela throughout 2011, focusing on the issues, local viewpoints, and anecdotes.
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Strategic Insight - New Funds in Asia and Europe: Q3 2011 Highlights (Nov 15 2011)
This commentary highlights trends in new fund development and marketing in Europe and Asia. New funds during the third quarter raised $27 billion in Asia, $8 billion in local Europe, and $6 billion through cross-border international funds. Key themes among fund introductions included emerging market, commodities and real asset funds, income solutions, high yield and emerging bond, multi-asset and global allocation, US equity, and alternatives (long/short, event driven, debt arbitrage, etc.).
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Strategic Insight - Global Fund Review, September 2011: Rising to the Challenge (Nov 03 2011)
Long-term fund assets worldwide fell 13% during the third quarter. Declines in Europe were higher, but most investors chose not to redeem. Although the quarter was the most challenging since 2008, net redemptions represented less than 2% of assets. During these times the global fund industry is adapting to a rapidly changing, complex, and highly challenging environment. Regulations such as RDR and MiFID II alongside lower expectations of growth and financial returns suggest major shifts in the fund business in Europe and globally. Adaptation has yielded gains for some, though, with products offering enhanced management of volatility, reasonable returns and income, and better downside protection getting traction. In Europe, alternative strategies have captured nearly 40% of all actively managed UCITS flows in the first half of 2011.
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Global Mutual Fund FlowWatch - August 2011 Results (Oct 19 2011)
Mutual funds in August showed an upward spike in long-term fund net redemptions, particularly in Europe, with a deepening of the sovereign debt crisis in the region. European local and international cross-border funds combined saw $85 billion in outflows, representing about 1.3% of beginning assets, while net redemptions in the US were limited to $35 billion. Asia long-term fund flows remained in positive territory with about $15 billion of net gains.
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Strategic Insight - Fund Fees In Europe: SI Total Expense Ratio Study Commissioned by EFAMA (Oct 13 2011)
On October 4, the European Fund and Asset Management Association (EFAMA) published research by Strategic Insight (SI) that analyzes investment management fees, distribution retrocessions, and total expense ratios (TERs). Seventeen EFAMA members provided fee data to SI through a survey that was coordinated with the association’s TER working group chaired by Massimo Tosato, the vice president of EFAMA and executive vice chairman of Schroders.
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Strategic Insight - The Evolution of Fund Fees In Europe: Supplementary Commentary to EFAMA Study (Oct 13 2011)
The structure and levels of fees in Europe have evolved over many years of interactions between local and cross-border market participants, banks and other financial product distributors, investors, and regulators. Despite the 27 languages and varying local regulatory and tax regimes of the European industry, management fee revenues retained by fund managers in Europe are only 3 bps greater on average than management fees in the US. Additional analysis on TERs, low cost funds in the UK, and other forces shaping fees in Europe over time, can be found in this supplementary commentary to our EFAMA-commissioned study.
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