The assets under management (AuM) in Finnish mutual funds increased modestly from 59.6 billion euros to 59.9 billion euros. The slight upswing was based on the stable market environment (+€47 million) and the positive net subscriptions (+€239.6 million) by investors. For the first quarter of 2012, the AuM has increased €4.5 billion (8.2%).
The AuM in equity funds was negative in March, declining by 200.2 million euros to €21.2 billion. The equity funds received €14.6 million in new investments by investors. Especially funds investing in North America were successful in gaining new assets (+€ 148.6 million).
The bond funds received €139.8 million in net subscriptions. The funds investing in rated corporate bonds in Eurozone (+€190.1 in net subscriptions) and the funds investing in rated corporate bonds globally (+€179.8 million in net subscriptions) were the most attractive to investors. The net subscriptions of funds investing in Eurozone government bonds were negative (-€283.8 million).
The assets under management in short term funds domiciled in Finland remained stable, gaining 94.2 million euros, mostly due to positive net subscriptions (€84.4 million). However, for the first quarter, the net subscriptions in this fund class were negative, losing €951 million.
The demand for asset allocation funds also remained stable, receiving €26 million in new investments. Alternative funds saw investors withdrawing their money for €25.2 million.
The most successful fund class was the funds investing in technology and telecommunication with its monthly 3.5 percent gain. Looking at the 12-month numbers, the highest yielding fund class was healthcare with its funds gaining 16 percent on average. Measured by five-year return, the most profitable fund class was Latin America with its annual return of 5.9 percent. In the means of Sharpe’s ratio, the best fund class was Eurozone government bonds (Sharpe’s ratio of 1.3).