| No upward trend in investment fund at the end of 2003 |
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| 16/05/2004 | |
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The last quarter of 2003 did not give way to an upward trend in investment funds, whose assets worldwide remained about unchanged at EUR 11.1 trillion. According to statistics collected by FEFSI, the European Fund Managers Federation, worldwide investment fund assets increased 2.3% over 2003. Due to the currency effect, if measured in U.S. dollar, those assets rose by 8.8% during the fourth quarter and 23.2% in 2003, reflecting the strong appreciation of the euro against the greenback.  Source: FEFSI Over the entire course of 2003, the increase in assets was principally moved by the recovery in stock markets, that however faded through the end of the year. Reflecting this trend, assets of equity funds posted an increase of 16 percent to EUR 4.7 trillion. Moving along the bull markets, balanced/mixed funds posted a rise of 8 percent, while assets of money market funds fell, whereas bond fund assets remained about unchanged.  Source: FEFSI In the end, net cash flow to investment funds reached EUR 267 billion worldwide in 2003. Thanks to positive inflows into all fund categories, Europe pulled in EUR 222 billion in new investments, compared to net sales of EUR 29 billion in the United States, driven mostly by an outflow of EUR 220 billion from money market mutual funds. This e-mail address is being protected from spam bots, you need JavaScript enabled to view it |
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Articles of the same Topic : Portfolio management |
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