Investment funds torpedoed by coronavirus in March
Monday, 20.04.2020
news-single-imgcaption" style="width:240px">Net cash outflows totaled 12.9 billion francs. The bond segment (-7.7 billion) is the one that pays the highest price, followed by stocks (-2.8 billion) and strategic funds (-1.9 billion).
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The assets of investment funds fell by almost 10% in March alone as a result of the coronavirus crisis. In volume, the contraction borders on 110 billion francs, indicates the Swiss Funds & Asset Management Association (Sfama) Monday in its monthly score.
“As might be expected, the uncertainty in the financial markets caused by the coronavirus crisis led to significant drops on all major stock exchanges during the month under review and the volume of the Swiss fund market decreased as a result, “said director Markus Fuchs, quoted in a statement.
Net cash outflows totaled 12.9 billion francs. The bond segment (-7.7 billion) is the one that pays the highest price, followed by stocks (-2.8 billion) and strategic funds (-1.9 billion). Only two categories resisted, but only marginally: raw materials (+331.5 million) and real estate (+7.2 million).
The largest fund promoter in the Swiss market UBS saw its volumes fall below 300 billion francs to 285.52 billion (-8.0% over a month), Credit Suisse below that of 200 billion to 179.92 billion (-7.9%), and Swisscanto under that of 100 billion to 94.09 billion (-6.4%). (AWP)
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