The great consolidation? Fund closures accelerate again in Q2

Data from Lipper reveals 502 funds were liquidated and 355 were merged during the quarter, well in excess of the 432 that were launched over the same period. It means there was a net decrease for Q2 2012 of 458, continuing a recent trend of a net contraction in fund numbers. It also marks an acceleration from Q1, when the industry shrank by a net 165 offerings. "The net size of the European fund universe has gone down consistently since Q1 2011," the Lipper report said. "With 432 new products for Q2 2013 the low number of newly launched funds we had noticed since Q2 2012 continued....