The first quarter 2011 witnessed the launch of 500 mutual funds registered for sale in Europe, compared to 762 newly launched funds over the same period in 2010.
Guaranteed funds, mixed-asset flexible funds and Newcits funds (UCITS funds using alternative strategies) comprised the largest type of fund launches during the first quarter 2011, according to the latest statistics from fund research group, Lipper Analytics. Luxembourg was the most active marketplace with the launch of 140 mutual funds, followed by France (83 new funds) and Spain (74 new funds).
The launch of 2,872 new funds in 2010 was the lowest number of funds launched during the five-year period from 2006- 2010. The most prolific years were 2007 with 4,327 new funds and 2008 with 3,702 new funds. 2010 was also characterized by a significant number of liquidations and mergers of funds, mainly due to the continuing impact of the UCITS directive.
The universe of mutual funds registered for sale in Europe included 31,493 primary funds as of the end of March 2011. Luxembourg hosts the largest number of mutual funds– approximately 8,100, followed by France, where 4,795 mutual funds are domiciled.
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