Product consolidation continuing: Lipper
Lowest number of new funds launched in Q1 in Europe for last five years, according to fund data agency.
European fund managers are still consolidating their fund ranges with more closures and mergers than launches in the first quarter, according to data from Lipper.
The figures show the first three months of 2012 saw the lowest number of new launches for a first quarter period in five years. A total of 506 funds were launched during the period compared with 994 in the first quarter of 2008, marking a 49 per cent decrease compared with the peak in the first quarter of 2008.
In total there were 1,032 fewer funds available for sale in the first quarter of 2012 than in the first quarter of 2011.
This week Investment Adviser’s Mid-Year Monitor found that the number of funds in danger of closure has increased for the second year running.