Massive boost for long short equity funds
According to Morningstar data, European investors have increased their weighting to long-short European equities significantly.
According to Morningstar data, European investors have increased their weighting to long-short European equities significantly.
Prusik Investment Management has added a 3% temporary front-end charge to its Asian Equity Income fund in order to stem inflows as the fund passes $900m of assets under management.
In part two of our three-part series on advisers’ top picks across the risk spectrum we look at the five most-selected funds for aggressive investors – ideal if you have clients looking to take on more risk in the wake of recent market rallies.
Cross-border funds attracted their second highest amount in the past ten years in 2012, accounting for nearly half of all European fund assets, according to the latest report from Lipper.
According to Morningstar’s latest fund flow research, European investors heavily sold out of equities in favour of fixed income funds during the second quarter of the year.
Total assets in Ucits funds fell by 0.8% in May to 5.8bn, while non-Ucits funds saw total assets boosted by 0.7% to 2.3bn, according to latest statistics from the European Fund and Asset Management Association (Efama).
Investors stayed on course with their current bond buying spree and continued to dump equities last week, as bond funds absorbed another $3.4bn of inflows, according to EPFR Global.
The European funds industry had its best Q1 of inflows since the start of the financial crisis, according to latest data from Lipper.
Aberdeen Asset Management saw AUM grow £14.8bn in the six months to the end of March, as a strong showing from its equity products mitigated weaker appetite for its fixed income and multi-asset offerings.
European bond and equity funds saw outflows hit 20- and 38- week highs respectively, as the political pendulum swung against austerity in France and the Netherlands last week.
Equity fund sales across Europe were up by 50% in February from the previous month, with 6.3bn flowing into long-term funds in the asset class, while high yield bond funds broke record sales.
Investors poured more than 15bn into long-term European-domiciled funds in February, with fixed income funds by far the favoured asset class attracting 12.5bn in inflows.