Swiss asset management association Sfama has reported that Swiss investment funds have recorded inflows of CHF2.3bn in July 2018.
The industry posted assets under management of CHF1.13trn, up 1.3% month-on-month (i.e.+CHF14.9bn).
In detail, bond funds have boarded CHF2bn of net new cash while net inflows in money market funds and asset allocation funds have amounted to CHF717.8m and CHF189.3m respectively.
Equity funds and alternative investments have suffered outflows of – CHF497.9m and – CHF223.7m over last month respectively. Some CHF21.4m outflows were sought in commodity strategies.
“The relevant stock markets posted strong gains in July, causing volumes on the Swiss fund market to increase as well. On top of this, there were renewed inflows during the month, albeit rather modest ones. Bond funds recorded the biggest gains. It appears that potential new investors are taking a cautious approach and waiting before they make their investments, whereas existing fund investors are scarcely moving their money around,” said Markus Fuchs, Managing Director of the Swiss funds & asset management association (Sfama).