FEFSI has published its latest statistical release on the developments in the worldwide investment fund industry in the third quarter of 2003.
Main highlights in the Statistical Release are:
Investment fund assets worldwide increased by 1.6 percent in the third quarter of 2003 to EUR 11.0 trillion. The net flow of new investments to all funds was EUR 53 billion, down from EUR 117 billion in the second quarter.
Worldwide equity fund assets, measured in euros, increased by 5.6 percent. This performance was driven by the good performance in stock price indexes and continued strong demand for equity funds. Net cash flow increased to EUR 91 billion, up from EUR 65 billion in the second quarter.
Net cash flow to bond funds was EUR 5 billion worldwide in the third quarter, down from EUR 77 billion in the second quarter. This development reflected net outflows in the United States. The outflow from money market funds accelerated in the third quarter to EUR 68 billion from EUR 33 billion in the second quarter. The outflow was largely concentrated in U.S. money market funds, in part associated with withdrawals by shareholders to make quarterly tax payments.
Full report
© FEFSI
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