Last updated: 09:24 / Monday, 9 January 2017
Thomson Reuters Lipper

November Was Negative for the Investment Fund Market

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November Was Negative for the Investment Fund Market
  • Bond funds, at negative US$ 39.3 billion, were at the bottom of the table for November, bettered by mixed-asset funds and alternatives funds, at US$ 7.6 billion and US$ 6.7 billion of net outflows
  • Most of the net new money for the year to date was attracted by bond funds, accounting for US$ 446.5 billion, followed by money market funds and commodity funds, with US$ 160.7 billion and US$ 24.3 billion of net inflows
  • Alternatives funds, at negative US$ 46.3 billion, were at the bottom of the table for the one-year period

In its latest Global Fund Market Statistics Report for November from Thomson Reuters Lipper, Otto Christian Kober, Global Head of Methodology at Thomson Reuters Lipper, highlights the main movements in assets under management in the global collective investment funds market, which fell US$ 133.3 billion (-0.4%) for November and stood at US$ 36.66 trillion at the end of the month.

Estimated net inflows accounted for US$ 28.2 billion, while US$ 161.5 billion was removed because of the negatively performing markets. On a year-to-date basis assets increased US$ 1,644.2 billion (+4.7%). Included in the overall year-to-date asset change figure were US$ 515.0 billion of estimated net inflows.

Compared to a year ago, assets increased US$ 1,340.3 billion (+3.8%). Included in the overall one-year asset change figure were US$ 606.6 billion of estimated net inflows. The average overall return in U.S.-dollar terms was a negative 1.8% at the end of the reporting month, underperforming the 12-month moving average return by 2.0 percentage points and underperforming the 36-month moving average return by 1.7 percentage points.

Fund Market by Asset Type, Novemeber

Most of the net new money for November was attracted by money market funds, accounting for US$ 67.9 billion, followed by equity funds and real estate funds, at US $18.2 billion and US$0.2 billion of net inflows, respectively. Bond funds, at negative US$ 39.3 billion, were at the bottom of the table for November, bettered by mixed-asset funds and alternatives funds, at US$ 7.6 billion and US$ 6.7 billion of net outflows, respectively. All asset types posted negative returns for the month, with equity funds at minus 0.8%, followed by alternatives funds and commodity funds, both at minus 1.6% returns on average. Bond funds, at negative 3.0%, bottom-performed, bettered by money market funds and mixed-asset funds, at negative 2.3% and negative 2.0%, respectively.

Fund Market by Asset Type, Year to Date

Most of the net new money for the year to date was attracted by bond funds, accounting for US$ 446.5 billion, followed by money market funds and commodity funds, with US$ 160.7 billion and US$ 24.3 billion of net inflows, respectively. Equity funds, with a negative US$87.0 billion, were at the bottom of the table for the year to date, bettered by alternatives funds and mixed-asset funds, with US$ 33.3 billion of net outflows and US$ 5.6 billion of net outflows, respectively. The best performing funds for the year to date were commodity funds at 7.1%, followed by equity funds and mixed-asset funds, with 4.4% and 3.7% returns on average. Alternatives funds, at negative 1.3% bottom-performed, bettered by money market funds and real estate funds, at negative 0.8% and negative 0.7%, respectively.

Fund Market by Asset Type, Last Year

Most of the net new money for the one-year period was attracted by bond funds, accounting for US$ 426.9 billion, followed by money market funds and commodity funds, with US$ 220.2 billion and US$ 23.2 billion of net inflows, respectively. Alternatives funds, at negative US$ 46.3 billion, were at the bottom of the table for the one-year period, bettered by equity funds and “other” funds, with US$ 44.5 billion of net outflows and US$ 1.9 billion of net inflows, respectively. The best performing funds for the one-year period were commodity funds at 5.6%, followed by bond funds and mixed-asset funds, with 3.2% and 2.5% returns on average. Real estate funds, at negative 2.0%, bottom-performed, bettered by alternatives funds and money market funds, at negative 1.4% and negative 1.1%, respectively.

Fund Classifications, November

Looking at Lipper's fund classifications for November, most of the net new money flows went into Money Market USD (+US$ 61.6 billion), followed by Equity US Small & Mid Cap and Equity Sector Financials (+US$ 13.7 billion and +US$ 10.6 billion). The largest net outflows took place for Bond USD Municipal, at negative US$ 9.8 billion, bettered by Bond USD High Yield and Equity Emerging Mkts Global, at negative US$ 7.5 billion and negative US$ 6.9 billion, respectively.

Fund Classifications, Year to Date

Looking at Lipper's fund classifications for the year to date, most of the net new money flows went into Bond USD Medium Term (+US$ 115.5 billion), followed by Money Market USD and Money Market GBP (+US$ 63.2 billion and +US$ 51.2 billion). The largest net outflows took place for Equity US, at negative US$ 78.2 billion, bettered by Equity Europe and Mixed Asset CNY Flexible, at negative US$ 54.8 billion and negative US$ 49.4 billion, respectively.

Fund Classifications, Last Year

Looking at Lipper's fund classifications for the one-year period, most of the net new money flows went into Bond USD Medium Term (+US$ 118.8 billion), followed by Money Market USD and Money Market GBP (+US$ 112.6 billion and +US$ 55.0 billion). The largest net outflows took place for Equity US, with a negative US$ 65.1 billion, bettered by Equity Europe and Mixed Asset CNY Flexible, with a negative US$ 50.8 billion and a negative US$ 34.3 billion, respectively.

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