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July 13, 2013

Top of the FOFS

by Ed Moisson.

Lipper’s latest report examines the holdings of third party (or unfettered) funds of funds across Europe to see which are the most popular funds and fund companies.

The most popular companies into which third party funds of funds invest are BlackRock (1st), JPMorgan (2nd) and Schroders (3rd). Meanwhile the most popular funds into which third party

funds of funds invest are, in order: M&G Optimal Income, Aberdeen Global – Emerging Markets Equity, First State Asia Pacific Leaders, Templeton Asian Growth, and Alken European Opportunities.

Third party funds of funds have increased their allocations to bond funds over the past three years from 24.8% to 28.7%. Among the most popular sectors (analysed using Lipper Global Classifications), allocations to emerging market bond funds (both local and hard currency) have risen from 1.2% to 3.2% over the past three years. Meanwhile allocations to global equity funds have fallen from 4.7% to 4.1%, but allocations to global equity income funds have risen from 0.2% to 1.3%. The single most popular sector remains US equities, with an aggregate holding of 7.9%.

Broader context for the funds of funds industry is provided in the report with an overview of the changing size and shape of this industry in Europe over more than a decade. Assets managed by third party funds across Europe have increased as a proportion of the overall funds of funds industry from 54% (€86bn at the end of 2001) to 63% today (€321.4bn out of a total of €509.8bn). Both the UK and cross-border funds of funds industries have doubled in size over past five years, to €61.6bn and €42.3bn respectively.

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