Recent articles by: Ralph Williams
  • September 2019Opinions & Features

    Switzerland

    Most Swiss groups saw inflows in July but for some of the largest groups these were weak, including UBS (€130m), GAM (€45m) and Swiss Life (€40m). Nevertheless, there was no change to the competitor leader board during July, with Axa IM keeping up its net sales assault, having only just broken into the top 10 in June.
  • September 2019Opinions & Features

    Switzerland

    While investors have stubbornly fixed their sights on bond funds this year, funds managers in the local Swiss market seem to have been trying to shift the debate toward riskier products. The first half of the year was defined by intensive product development in the equity space, bringing the total number of launches here to 22 by July. New bond …
  • August 2019First Sight

    First indications of fund flows in July 2019

    ▪ Caution is king in July. June's net inflows into equity and mixed funds hinted at rising optimism among investors, but by July appetite for risk seemed to had evaporated in the summer heat, leaving investors craving more liquid options.
  • August 2019First Sight

    All you need is bonds, bonds…

    Although major indices continued to register performance gains in July, growth was markedly slower than in the previous months and, despite a positive overall economic picture, investors still found some causes for worry. June's inflows into equity and mixed funds were short-lived, with both categories seeing outflows of more than €1bn again in July. Thanks to the impetus in bond …
  • August 2019First Sight

    A select circle

    Political turbulence within, and tension between, the world's major economies has been on the rise in the past years, while the accommodative monetary policy that has supported asset prices – and the longest bull market in history – has been slowly wound down, or even shelved. Investors are, understandingly, concerned about what this means for their funds and have become …
  • August 2019First Sight

    Retreating from risk

    After June's surge in net sales of fund products, inflows declined significantly again in July, with headline long-term flows coming to $26bn. Money-market funds were the go-to product with net sales of $76bn, in a clear sign of investor risk aversion. Likewise, bond fund sales were up month on month – with the $51bn in inflows here amounting to a …
  • August 2019Opinions & Features

    Switzerland

    Product launches on the Swiss market raised €5.5bn over the first six months of the year, thus accounting for a not-inconsiderable part of the €8.3bn net flow into domestic funds in H1. This figure was achieved, however, through the sheer volume of new funds, with no blockbuster launches appearing to dominate the scene. With 41 launches over the year to …
  • August 2019Opinions & Features

    Switzerland

    First half sales champion Credit Suisse recorded inflows across a wide range of offerings, but its most obvious success story was a global equity pension product in fund of funds form, which netted a cool €4bn. The bank’s wider global equity products were also popular, and in total Credit Suisse collected a net €1.3bn in this sector during the first …