More fund consolidation in Europe

Mixing paintThe second quarter of 2012 saw fund consolidation pick up, according to Lipper.

Its latest research on the European mutual fund industry shows a total of 875 funds were withdrawn from the market as a result of 535 liquidations and 340 mergers.

In contrast, 417 new products were launched, the lowest number for the second quarter of the last five years.

This brings the number of mutual funds registered for sale in Europe at the end of June to 31,787.

Luxembourg dominates the fund market in Europe, hosting 8,443 funds, followed by France, where 4,638 funds were domiciled.

In terms of asset classes, equity funds continued to dominate, accounting for 37% of funds available for sale. Mixed asset funds accounted for 34% and bond funds for 18%.

©2012 funds europe