It was somewhat surprising that February 2023 was in general a negative month for the European fund industry given the rather positive revisions of the economic outlooks for the major economies globally and a possible end of the interest hiking cycle of central banks. That said, mutual fund promoters (-€18.2 bn) faced outflows, while ETFs promoters (+€8.1 bn) enjoyed inflows. The outflows from actively managed funds were driven by outflows from money market products (-€18.8 bn). Within the current market environment, it is not surprising that European investors sold money market products since these products are considered as so-called safe-haven

The European fund industry enjoyed inflows over the course of January 2023 as the markets were further recovering. The generally positive market trend was driven by expectations of a possible end of the monetary policy tightening cycle by central banks around the globe and better than expected economic growth in the major economies, which would fuel company earnings. That said, the promoters of mutual funds (+€17.7 bn) and the promoters of ETFs (+€18.9 bn) enjoyed inflows. Within this market environment, it was not surprising that European investors sold money market products since these products are considered safe-haven investments. Therefore, one

Refinitiv Lipper Fund Awards 2020 Best Group over 3 years: MIXED ASSETS Many investors, well-schooled in the art of value investing, pride themselves on staying vested for the long term after picking what they think will be winners. From the experience and research of AllianceBernstein, investors can do better if they are invested in a portfolio where short-term adjustments are made, in response to changing market conditions. By doing so, it is possible to reduce risk and the impact of extreme market environments, without sacrificing long-term returns. “Dynamic Asset Allocation is a highly customisable, globally diversified toolset that seeks to

Investor concerns regarding declining earnings and the possible effects of a trade war between the U.S. and China materialized in Europe’s August fund flows. Nevertheless, August was the sixth month that long-term mutual funds posted net inflows this year. Taking the current interest rate environment into account, it was surprising that bond funds (+€30.3 bn) were once again the best-selling asset type in the segment of long-term mutual funds, followed by mixed-assets funds (+€1.5 bn) and commodity funds (+€0.9 bn). All other asset types faced outflows: equity funds (-€20.0 bn), alternative UCITS funds (-€3.3 bn), “other” funds (-€0.5 bn), and

The negative fund-flows trend in Europe continued in May. As a consequence, May was the thirteenth month in a row long-term mutual funds posted net outflows after 16 consecutive months of net inflows. Taking the current interest rate environment into account, it was surprising that bond funds (+€5.0 bn) were once again the best-selling asset type in the segment of long-term mutual funds, followed by real estate funds (+€1.0 bn) and commodity funds (+€0.3 bn). All other asset types faced outflows: equity funds (-€22.0 bn), alternative UCITS funds (-€5.7 bn), mixed-asset funds (-€5.2 bn), and “other” funds (-€0.4 bn). These

The negative fund flows trend in Europe continued in April as the securities markets showed a volatile, but positive, trend. As a consequence, April was the twelfth month in a row long-term mutual funds posted net outflows after 16 consecutive months of net inflows. Taking the current interest rate environment into account, it was surprising that bond funds (+€7.6 bn) were once again the best-selling asset type in the segment of long-term mutual funds, followed by real estate funds (+€0.2 bn) and commodity funds (+€0.1 bn). All other asset types faced outflows: equity funds (-€21.0 bn), alternative UCITS funds (-€8.7

The negative trend with regard to fund flows in Europe continued in March even as the securities markets rebounded. As a consequence, March was the eleventh month in a row long-term mutual funds posted net outflows after 16 consecutive months of net inflows. Given the current interest rate environment, it was surprising that bond funds (+€16.4 bn) were once again the best-selling asset type in the segment of long-term mutual funds, followed by real estate funds (+€0.1 bn). All other asset types faced outflows: equity funds (-€20.9 bn), alternative UCITS funds (-€7.9 bn), mixed-asset funds (-€5.5 bn), “other” funds (-€0.5

European investors pulled back further from long-term mutual funds as the market environment and general sentiment stayed negative. As a consequence August was the fourth month in a row posting net outflows from long-term mutual funds after 16 consecutive months showing net inflows. That said, European fund promoters still enjoyed net inflows into mixed-asset funds (+€2.3 bn) and real estate funds (+€0.5 bn), while all other asset types in the segment of long-term mutual funds witnessed net outflows: bond funds (-€7.4 bn), alternative UCITS funds (-€2.5 bn), “other” funds (-€0.6 bn), and commodity funds (-€0.6 bn) as well as equity

Over the last few weeks the fund markets have seen two major players in active fund management changing their views about the pricing models of their actively managed funds. Allianz Global Investors (AGI) (for three new funds in the U.S.) and Fidelity (for its equity funds in Europe) announced they are moving the pricing of their actively managed mutual funds from a rather fixed management fee to a performance-based variable fee with a very low minimum fee applied in all circumstances. On the same topic AB (AllianceBernstein) announced earlier this year that it will change the management fees for a

Investors of the world unite! You have nothing to lose but your chains to poor performance! That’s one way to interpret the somewhat radical May Day upheaval at AllianceBernstein. The U.S. investment-management firm once renowned for its stock-and-bond-picking skills ousted Chairman and Chief Executive Peter Kraus in a move that suggests steady decline is no longer acceptable in a market dominated by indexers, exchange-traded funds and other lighter-touch strategies. His tenure was bookended by crisis. The firm controlled by French insurer AXA tapped Kraus, a former co-head of asset management at Goldman Sachs, to replace veteran Lewis Sanders in December