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| 2006 | 2007 | 2008 | 2009 | 2010 | |
| Equity | 129.5 | 130.4 | 73.6 | 98.9 | 114.9 |
| Bond | 69.7 | 62.9 | 50.5 | 51.7 | 52.9 |
| Balanced | 22.3 | 27.5 | 29.2 | 30.6 | 39.2 |
| Money Market | 32.7 | 27.3 | 15.1 | 9.7 | 9.5 |
| Fund-of-Funds | 13.1 | 13.3 | 13.9 | 17.4 | 18.9 |
| Other | 4.2 | 4.7 | 2.5 | 12.6 | 14.1 |
| Total of which |
271.6 | 266.1 | 184.9 | 220.9 | 249.4 |
|
0.0 | 0.0 | 0.1 | 0.1 | 0.1 |
|
17.6 | 19.9 | 16.8 | 23.8 | 27.6 |
|
1.2 | 4.0 | 5.3 | 5.9 | 9.1 |
|
1.9 | 2.4 | 3.0 | 2.3 | 2.7 |
Reference dates: end of year in each case
Source: BVI
| 2006 |
2007 | 2008 | 2009 | 2010 | |
| Equity | -7,061 | -7,317 | -2,948 | 5,798.9 | 2,270.9 |
| Bond | -1,609 | -5,701 | -12,602 | 2,369.2 | 565.4 |
| Balanced | 587 | 3,562 | 7,577 | 3,110.6 | 6,957.8 |
| Money Market | 393 | -4,752 | -11,792 | -5,854.3 | -916.6 |
| Fund-of-Funds | 1,812 | 48 | 4,067 | 983.0 | 425.5 |
| Other | -368 | 716 | 59 | 1,636.0 | 1,188.0 |
| Total of which |
-6,245 | -13,444 | -15,639 | 8,043.4 | 10,491.0 |
|
0 | 0 | 0 | 2.6 | 9.1 |
|
3,218 | 1,333 | 3,709 | 2,480.2 | 2.079.3 |
|
-203 | 1,220 | 0.6 | 385.4 | 3,126.8 |
|
671 | 334 | -98.0 | 170.8 | 181.7 |
Reference dates: end of year in each case
Source: BVI
The most pronounced growth of net assets expectedly took place in equity funds which were able to benefit from both, good performance (e.g. 15 percent for globally investing equity funds) and satisfying net sales, the latter being not yet as convincing as the year before, but well settled above the figures seen in the years of crisis. Decreasing risk-aversity of retail investors became more visible in balanced funds than in pure equity funds. Balanced funds succeeded in covering about 70 percent of UCITS net sales and thus turned out the most favoured fund category of the last years. In money market funds, persistent net outflows are hopefully coming to an end. ETFs are incrementally increasing their importance for the fund market, even though their proportion within home-domiciled UCITS is still quite low (11 percent) and their growth was not as strong as in some years before. Absolute return funds took advantage from investors in search of comparably safe, risk limited investments. Taking a large scale view on risk and reward profiles, they may be arranged at the conservative end of the balanced funds universe (although applying different mechanisms of portfolio management) and thus give proof of an overall trend for avoiding unfiltered risks of “pure” asset classes. It should be stressed that net sales of absolute return funds exceeded those of equity funds by nearly EUR bn 1.
