Multi-asset funds outnumber bond funds – Lipper
There are now for the first time more multi-asset funds than bond funds for sale in Europe, according to statistics released by Lipper.
Brexit
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Brexit vote triggers flight from European equities
Outflows from European equities swelled to levels not even seen during the financial crisis after last month’s Brexit vote.
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It would be rational for the UK to leave EU ASAP – Mirabaud
From an investment point of view it would be rational for the UK to avoid delays in leaving the EU, said Gero Jung, chief economist at Mirabaud.
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European equity sentiment in freefall
Appetite for European equity has cooled down significantly. Already before the British vote for Brexit, the asset class had fewer fans than at any point in the past five years.
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ESMA advises extension of fund passporting to non-EU countries
Esma, the European financial regulator, has concluded there are no ‘significant obstacles’ to extend passporting rights for alternative investment funds (AIFs) to seven non-EU jurisdictions: Canada, Guernsey, Jersey, Japan, Switzerland, Hong Kong and Singapore.
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Investors rush to sell equity funds after Brexit vote
Brexit has already cost active managers dearly. Over the month of June, European investors pulled €19.2bn from actively managed equity funds, Lipper reported today.
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Emerging market equities set to gain from Brexit
Emerging market equities are now the most popular asset class with European investors. And demand for the asset class is set to accelerate for several reasons. Not the least of those is Brexit.
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Brexit impact on EU-27 will be minimal, claims GAM
The economic impact of Brexit on continental Europe will be small, according to Niall Gallagher, investment director of European equities at GAM.
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Fund buyers uncertain about macro outlook
European investors are more uncertain about their macroeconomic outlook than ever before. In a year’s time, the share of fund buyers with an uncertain macroeconomic outlook has doubled to 60% according to Expert Investor data.
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Brexit disrupts ECB QE programme
ECB president Mario Draghi conspicuously avoided the B-word when he held a speech in Portugal last week. This may well be because he has yet to find an answer to the problems the vote has thrown up with regards to the execution of the central bank’s asset purchase programme.
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Asset managers at different stages of Brexit readiness
The UK risks losing its financial passporting rights if it leaves the European single market following the Brexit vote. Some asset managers are taking action to counter this threat, while others sit back and wait.
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Bearish investors resort to indiscriminate selling
If fund flows are a reliable sentiment gauge, investors were at their most bearish since the autumn of 2011 on the eve of the Brexit vote. And the referendum outcome has only exacerbated this trend.