Recent articles by: Chris Chancellor, CFA
  • July 2019Opinions & Features

    An over abundance of small funds

    While Europe has been cleaning up its act and reducing the number of funds it has, progress remains very slow. At the end of 2018 there were 34,642 funds with assets in Europe and that number has fallen by just, 53 to 34,589, at the end of May. This leaves Europe with a small fund problem as over 20,000 of …
  • June 2019Opinions & Features

    April showers, green shoots

    April brought another shower of product launches to the market, 177 to be precise, which generated €7bn in new net sales. Equity was responsible for the most launches, but bonds raised the most money; mixed assets were again a laggard. Thirty-two of the launches were ESG focused and, unusually, fixed income was the leader here, with 12 funds. Some were …
  • May 2019Opinions & Features

    Fund Profile: Flossbach Multiple Opportunities

    Flossbach Multiple Opportunities and Multiple Opportunities II are two versions of the same fund. The first is an AIF and the second is a Ucits. In reality, they are extremely similar if not exactly the same; therefore they are analysed together as one fund for the purposes of this profile. A multi asset fund investing across a range of asset …
  • May 2019Opinions & Features

    First quarter flurry

    The first quarter may have been marked by flat sales overall but fund launches continued unabated. Year to date, there have been 588 new funds coming to market in Europe. Together these launches have generated €48bn of net sales, thus dwarfing the overall flow in the market. At the headline level it is equity which has been the winner, gathering …
  • April 2019Opinions & Features

    Mediocre mixed assets

    In just 19 working days in February, product developers brought 176 products to market – an average of nine per day. Together these launches raised €15bn. This was further boosted by the range of ACCESS funds (the funds for local government pension schemes in the UK). The five equity funds launched by this group raised €6bn as money was transferred …
  • March 2019Opinions & Features

    And we’re off!

    The 2019 data year has begun, and whilst fund flows may have been sluggish in January, there were plenty of new launches, filled with the hopes and dreams of asset managers. Equity funds accounted for more new offerings than any other asset class. Some new mixed asset funds came to market, too, but with demand still negative in that arena, …
  • February 2019Opinions & Features

    Launch locomotive steams ahead

    Flows may have been disappointing in 2018 but nothing stops the innovation train from rolling onwards. With the fund-launch process typically taking at least 12 months from initial idea to inauguration, it would take momentous events to halt this locomotive. In 2018, 2,471 new funds hit the shelves in Europe, and together these launches gathered €211bn in net flows. But …
  • January 2019Opinions & Features

    More rain on the product parade

    It may have been another challenging month for the industry in November but product developers still managed to launch a healthy set of new funds. New offerings numbered 206 – exactly in line with the monthly average for the year – although they generated a fairly punchy €12.5bn of net new money in a month that otherwise produced an industry-wide …