Dutch investment funds’ assets under management up
The fourth quarter of 2015 saw assets managed by Dutch investment funds go up almost EUR 20 billion to EUR 764 billion, mainly reflecting the performance of the invested assets. Viewed by fund type, equity funds achieved the highest return at 7.4%. The expansion of assets under management was also driven by net new deposits totalling well over EUR 1 billion.
At year-end 2015, Dutch investment funds managed assets worth EUR 764.3 billion (see Figure 1), up EUR 19,8 billion (2.6%) from the previous quarter. Equity funds and real estate funds saw the sharpest rise in assets managed, by EUR 11.2 billion (4.5% quarter-on-quarter) and EUR 3.9 billion (3.8% quarter-on-quarter), respectively.
The increase in invested assets was predominantly caused by their performance. The entire sector’s investment return in the fourth quarter came to 3.1% (see Figure 2), with equity funds achieving the highest return (7.4%). Among equity funds, funds investing primarily in the Netherlands realised a 7.8% return, outperforming the AEX index (4.9%). Real estate funds and mixed funds reported returns of 5.0% and 3.3%, respectively. The returns of hedge funds (1.1%) and bond funds (0.6%) were lower, but still positive. Other funds (including commodity and mortgage funds) were the only fund category to report a negative return (-2.7%). In all cases returns were up from the third quarter of 2015.
In the fourth quarter of 2015, net new deposits in units issued by investment funds came to EUR 1.3 billion (see Figure 3). The positive returns registered among equity funds were partly offset by EUR 4.3 billion in withdrawals, mainly from funds investing globally. Bond funds and other funds were favourite among investors, with net deposits equalling EUR 3.0 billion in each fund category. Real estate funds (- EUR 160 million), mixed funds (- EUR 100 million) and hedge funds (- EUR 50 million) showed modest withdrawals.