The Belgian fund sector recorded a 4% contraction in the total value of assets in the second quarter of this year despite positive net sales.
Data published by the Belgian Association of Fund Managers Beama shows that the value of funds fell €7.6 billion to €182.3 billion in the three months to end June.
Beama president Marnix Arickx said that the fall was due to a combination of “a number of macro-economic evolutions in terms of the equity markets, long-term interest rates and exchange rates which had a repercussion on the underling assets of the funds”.
Fixed income assets fell 6.8% to €37.4 billion during the second quarter while variable revenue funds, such as “balanced” and equities, fell 3.2% to €144.9 billion during the same period.
Meanwhile, pension and saving funds increased in value by €0.3 billion during the same period to reach a record high of €19 billion.
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