Statistical News Release: Dutch investment funds rebound strongly
The first quarter of 2019 saw total assets managed by Dutch investment funds rise by EUR 857 billion to EUR 906 billion. This rise is almost completely attributable to investment price gains of almost EUR 66 billion. The rise in the value of managed assets was tempered as investors withdrew a net amount of EUR 25 billion from investment funds. As a result, the total value of managed assets has almost returned to the same levels as in the third quarter of 2018.
Price gains push up the value of assets
Dutch investment funds suffered their highest ever losses in value in the fourth quarter of 2018. Nonetheless, in the first quarter of 2019 they more than recouped these losses. Price gains drove up the value of their assets by EUR 66 billion (8%). Equity funds increased in value by EUR 41 billion, accounting for almost 60% of this rise. Bond funds and other funds (which include mortgage and venture capital funds) also saw strong increases in value of almost EUR 9 billion and EUR 7 billion, respectively. Other types of funds saw less pronounced increases in value, amounting in total to EUR 9 billion.
Rises in the value of equity investments held by equity funds are approximately in line with the gains made on international stock exchanges in the same period: in the Netherlands the AEX rose by 12.5%, while in the United States the S&P posted gains of 15.1%, while the MSCI World Index rose by 13.9%.
Restructuring operations result in withdrawals of EUR 25 billion
In the prior quarter, investors made net withdrawals of over EUR 25 billion from Dutch investment funds – the largest quarterly withdrawal ever recorded. Over EUR 21 billion related to pension funds’ withdrawals from bond funds as a result of the restructuring of investment portfolios. As Dutch pension funds in many cases make their investments through investment firms, and are also these firms’ largest investors, pension funds are highly sensitive to such portfolio restructuring. The remaining EUR 4 billion in net withdrawals is a result of the withdrawal of EUR 8 billion in equity funds and net contributions of EUR 4 billion to ‘other funds’, including venture capital funds and mortgage funds.
Please refer to our statistics website for more information about Dutch investment funds.