Tatton acquires Prism Capital
Prism Capital Management’s four risk-rated funds will move to independent asset management business Tatton following its purchase for an undisclosed sum.
Prism Capital Management’s four risk-rated funds will move to independent asset management business Tatton following its purchase for an undisclosed sum.
European funds attracted a total 40bn in May, although the allocation of the capital is not indicative of investor optimism according to the latest fund data from Morningstar.
Funds from a cross section of sectors have produced consistent top quartile performance over the past five years, with two UK equity funds in the ranks.
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The European mutual fund industry attracted 212.2bn in 2012, significantly more than the 175.1bn of inflows into US mutual funds despite the relatively smaller size of the two markets.
Ucits net sales hit their largest quarterly total since 2006 in the first quarter of 2013 as demand surged to 130bn and ten countries attracted net inflows of more than 1bn.
There was a 268% increase in clean fund sales in March as investors sought to avoid new fund charges and make last minute ISA investments, according to TD Direct Investing.
European bond fund sales tumbled to a nine-month low in February at just 9.4bn, in line with a general trend, according to Lipper data.
Long-term funds attracted their highest monthly inflows in seven years in January, with both bond and equity sales contributing to the strength in numbers, according to Lipper data.
Pimco was the leader of the pack in terms of group inflows in 2012 securing the US giant the top spot in average annual sales over the past decade, according to data released by Lipper.
Credit funds will have difficulties matching the record returns and inflows from 2012 in 2013, data from Fitch Ratings predicts.
UK property fund investors have lost an average 11.4% over the past five years, according to a study conducted by Castle Trust.