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Recent Reports:
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Global Leadership Turnover & 1H/2010 Review (Jul 22 2010)
Global net flows to long-term funds reached $500 billion in the first half of 2010, despite a challenging second quarter, with global fixed Income, emerging markets, Asia-Pacific and absolute return as best selling categories. This commentary discusses the best selling managers, top cash flow products by region and key findings from our in-depth research on fund innovation and distribution, along with an outlook for the second half of the year.
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Global Mutual Fund FlowWatch – May 2010 Results (Jul 19 2010)
In May, mounting investor concerns over the European sovereign debt crisis and prospects of global economic recovery reversed at least temporarily the positive flow trend in the US and Europe since April 2009. In these two respective regions, equity/mixed, bond and other long-term funds saw $5 billion and $14 billion in net redemptions during May. In comparison, long-term funds in Asia collected a meaningful $15 billion in net flows for the month with Japan contributing two-thirds of that total.
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Asia FlowWatch - May 2010 Results (Jul 19 2010)
During the Month of May, Asian investors deposited almost $15 billion into long-term mutual funds, $10 billion of which went to Japan. Among May new fund highlights, Nomura’s Global Automobiles Equity fund gathered close to $1 billion.
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Europe FlowWatch - May 2010 Results (Jul 19 2010)
In May, local Europe and international cross-border funds (including money market products) both suffered net redemptions of Euro 22 billion and Euro 13 billion, respectively. However, ETFs tracking German stock index (DAX) garnered over Euro 6 billion in net flows during the month.
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Mapping Fund Opportunity and Expansion Against Global Financial Risks (May 26 2010)
Global financial risks, Europe’s debt crisis, the recent “flash crash”, and rising volatility stand in sharp contrast to the $1.3 trillion of global fund inflows in the past year. Our commentary discusses these along with insights from our dinner with Nassim Taleb, author of The Black Swan; a preview of SI’s new research on global distribution; a Japan case study of innovation in asset management, as a cloud computing and smart grids fund raises over $1 billion; and managing alternative strategies, financial technology, and complexity.
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An Inflection Point for the Global Mutual Fund Industry (Feb 24 2010)
Against the backdrop of 2007-2010 market concerns around the credit crisis, the global mutual fund industry garnered record investor wealth in the second half of the decade. Funds globally between 2005 and 2009 attracted over $4 trillion in net cash flows, almost $3 trillion of which to stock and bond funds. Importantly, equity/mixed funds led the way with $1.7 trillion in cash contributions, followed by almost $900 billion to fixed-income funds, mostly from the US, but with meaningful contributions from Asia. Key themes of this study include five year and 2009 flow results, industry league tables, $60 trillion in cash on the sidelines, a "golden age" for Asia, and a re-distribution of assets in the Europe and the US.
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Extending the Asset Management Toolkit (Jan 29 2010)
A record $1 trillion in long-term fund net flows worldwide in 2009, despite limited gains in equity funds in the US and Asia, suggests a larger potential for the industry in the coming years. Asset allocation, multi-asset, and flexible solutions are getting more sales globally, a trend which should continue throughout 2010. Additionally, desire for access to alternative fund strategies in a more liquid and transparent structure are converging on UCITS, encouraging a fresh wave of innovation. Further detail and insight into related trends, success stories, and this year's themes are detailed within the report.
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Asset Bubble Concerns, as Fund Flows Approach Highs (Nov 30 2009)
Up until the Dubai debt scare, global fund net sales were running at a record pace, notwithstanding concerns about asset valuations, possible bond and commodity bubbles, and emerging risks. Worldwide, over $600 billion of inflows went to long-term funds in the six months through September. But massive bond fund sales have raised questions. What happens next in Asia and Europe, and around the globe?
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No More Excuses: Rethinking the Potential for Funds Worldwide (Sep 23 2009)
The phenomenal success of Carmignac continues to stretch the industry’s concepts about what is possible for funds today. One implication is that fund managers no longer have many excuses for marketing failure, particularly in Europe. If they can do it, why can’t others? Other highlights include: successes in China, alternative investments through a UCITS structure, and select lists and distribution trends in Asia.
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Strings Attached: Weaving Emerging Market, Fund Advice Connections (Aug 25 2009)
June helps industry to clear $250 billion in Q2, with inflows to long-term funds exceeding $80 billion contributing toward a quarter trillion net gain in the second quarter. Many individual funds notched impressive results in every region, though top sellers remained in Asia. Other themes include: emerging markets, top selling new fund launches in Asia and Europe, the next wave of ETF adoption, and investment advice.
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