The net inflow originated mainly from institutional investors. Pension funds deposited EUR 3.8 billion and insurers EUR 0.1 billion. Households withdrew funds from Dutch investment funds (EUR 0.7 billion in 2012Q2) for the seventh consecutive quarter.1 Since end-2010, Dutch households have removed EUR 9 billion from Dutch investment funds (see Figure 2).2 The net sales of units in Dutch investment funds may reflect greater risk aversion among households.
Slight increase in total net assets of Dutch investment funds
- Statistical News Release
Date 15 August 2012
Total net assets of Dutch investment funds increased by 0.5% quarter-on-quarter to EUR 512 billion in the second quarter of 2012. In the previous quarter, by contrast, total net assets had expanded by 6.7% QoQ. The number of Dutch investment funds declined by 32 to 1465 over the second quarter of 2012 (see Figure 1).
A capital gain of 0.8% QoQ was realised on the investments in government bonds – largely consisting of bonds issued by euro area countries. Investments in corporate bonds yielded a capital gain of 1.3% QoQ. US corporate bonds account for around 37% (EUR 29.0 billion) of the total investments in corporate bonds.
[note 1]For the net inflow from other sectors see Table 6.3 on the 'Investment funds' page on DNB's website.
[note 2]This amount includes the conversion of Rabobank Member Certificates in the fourth quarter of 2011. Households held around EUR 5.4 billion in Rabobank Member Certificates.