Assets in investment funds hit record high

Statistical News Release
Date 22 May 2012

During the first quarter of 2012, total assets in Dutch investment funds rose by 6.2% quarter-on-quarter (EUR 29.6 billion) to EUR 506.9 billion. The last quarter of 2011 had seen a 1.2% increase.

Total assets of investment funds crossed the EUR 500 billion line for the first time since the start of the investment statistic (year-end 2008) (see Figure 1). The rise was mainly due to price gains on investments and to some extent to net deposits. The number of Dutch investment funds declined slightly from 1478 at end-2011 to 1472.

Dutch Investment funds' total net assets

Investment funds realised total returns on invested assets of 5.1% in the first quarter of 2012 compared to the last quarter of 2011 (Figure 2). Equity investments recorded a 8.2% price gain quarter-on-quarter. At the same time, the MSCI World Index rose by 8.1% quarter-on-quarter, in euro terms. Investments in government bonds – dominated by bonds of euro area governments – brought in 2.1% in price gains, below the iBoxx Euro Sovereign all maturities index, which rose by 2.9% quarter-on-quarter owing to declining capital market rates in both France and Italy. Funds realised price gains of 2.4% on their corporate bond portfolios.

Investment funds' total return (in % QoQ)

In the first quarter of 2012 Dutch hedge funds chalked up a 0.2% return, quarter-on-quarter, while the Dow Jones Credit Suisse Hedge Fund index rose by 4.0%. The low returns realised by Dutch hedge funds is explained by a 3.2% depreciation of the euro vis-à-vis the US dollar. The number of Dutch hedge funds decreased by 7 during the review period, to 97(table 6.2).
Net deposits into investment funds, mainly from institutional investors, ran to EUR 3.6 billion. Positive net deposits were reported only by ‘other funds’ (EUR 6.9 billion) and hedge funds (EUR 0.6 billion). Equity funds (EUR -2.3 billion), bond funds (EUR -1.3 billion) and mixed funds (EUR -0.2 billion) reported net outflows in the first quarter. Real estate funds also saw limited net outflows (of EUR -48 million).
For further information please contact Herman Lutke Schipholt (tel. +31 20 524 2712, + 31 6524 96 900) or Kees Verhagen (tel. +31 20 524 2272, +31 6 211 23 922).

Definition of collective investment scheme
Investment institutions attract funds from the general public for the purpose of collective investment. In the above, investment institutions should be read as (incorporated) investment companies and (unincorporated) investment funds. In everyday usage, both are often referred to as 'investment funds'. All figures relate to investment institutions established in the Netherlands.