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ICI reports worldwide mutual fund assets and flows Q3 2013

India Infoline News Service | Mumbai |

NA

Mutual fund assets worldwide increased 5.2 percent to $28.87 trillion, an all-time high, at the end of the third quarter of 2013. Worldwide net cash flow to all funds was $208 billion in the third quarter, compared to $115 billion of net inflows in the second quarter of 2013. Flows into long-term funds decreased to $100 billion in the third quarter from an inflow of $213 billion in the previous quarter. Equity funds worldwide had net inflows of $81 billion in the third quarter, up from $45 billion of net inflows in the second quarter.

Outflows from bond funds totaled $49 billion in the third quarter, the first outflow recorded since the fourth quarter of 2008, and down from net inflows of $54 billion in the second quarter. Inflows into money market funds were $108 billion in the third quarter of 2013, reversing the $99 billion outflow recorded in the second quarter of 2013.

The Investment Company Institute compiles worldwide statistics on behalf of the International Investment Funds Association, an organization of national mutual fund associations. The collection for the third quarter of 2013 contains statistics from 44 countries.

The growth rate of total mutual fund assets reported in U.S. dollars was made larger by U.S. dollar depreciation. For example, on a U.S. dollar–denominated basis, mutual fund assets in Europe increased by 6.4 percent in the third quarter, compared with an increase of 3.1 percent on a Euro-denominated basis.

On a U.S. dollar–denominated basis, equity fund assets increased 9.2 percent to $12.4 trillion at the end of the third quarter of 2013, and accounted for nearly three-quarters of the $$1.4 trillion quarterly increase in global mutual fund assets. Bond fund assets increased 1.1 percent in the third quarter to $7.1 trillion, despite bond fund outflows, and accounted for 5 percent of the quarterly increase in global mutual fund assets. Balanced/mixed fund assets rose 5.3 percent in the third quarter, accounting for 12 percent of the global increase in assets, while money market fund assets rose 4.4 percent.
Net cash flows into mutual funds worldwide were $208 billion in the third quarter of 2013. Flows into equity funds worldwide were $81 billion in the third quarter, after experiencing $45 billion of net inflows in the second quarter of 2013. In the Americas, equity funds recorded inflows of $42 billion in the third quarter versus net inflows of $35 billion in the second quarter. European equity funds posted an inflow of $39 billion in the third quarter compared to an $11 billion net outflow in the previous quarter.

Globally, bond funds posted an outflow of $49 billion in the third quarter of 2013, the first outflow since the fourth quarter of 2008, after registering net inflows of $54 billion in the second quarter of 2013. Bond funds reported $44 billion of net outflows in the Americas and outflows of $16 billion in Europe during the third quarter. In the Asia and Pacific region, bond funds recorded net inflows of $11 billion in the third quarter compared with net inflows of $25 billion in the second quarter.

Inflows from balanced/mixed funds worldwide totaled $63 billion in the third quarter of 2013, compared with $74 billion of net inflows in the second quarter of 2013. Inflows were recorded into balanced/mixed funds of $35 billion in the Americas and $26 billion in Europe during the third quarter.

Money market funds worldwide experienced a net inflow of $108 billion in the third quarter of 2013 after recording a net outflow of $99 billion in the second quarter of 2013. The global inflow from money market funds in the third quarter was driven by inflows of $91 billion in the Americas and $28 billion in the Asia and Pacific region. Money market funds in Europe registered outflows of $12 billion in the third quarter.

At the end of the third quarter of 2013, 43 percent of worldwide mutual fund assets were held in equity funds. The asset share of bond funds was 25 percent and the asset share of balanced/mixed funds was 12 percent. Money market fund assets represented 16 percent of the worldwide total.

By region, 57 percent of worldwide assets were in the Americas in the third quarter of 2013, 31 percent were in Europe, and 12 percent were in Africa and the Asia and Pacific region.

The number of mutual funds worldwide stood at 75,274 at the end of the third quarter of 2013. By type of fund, 37 percent were equity funds, 24 percent were balanced/mixed funds, 18 percent were bond funds, and 4 percent were money market funds.
 

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