Mutual funds out of the crisis average returns at 4% – BBC

The

Milan , August 8, 2015 – 16:47

     
     
 

Spiragli light, but only on a horizon of short and medium term , illuminate the landscape of yields mutual funds Italian. According to the 24th edition of the Survey on funds and mutual funds tricolor conducted by the Research Department of Mediobanca funds have in fact closed 2014 with an average gross return of 4 %% (net 3.6%), which benefited from the particularly strong performance equity funds (+ 6%), balanced funds (+ 5.5%) and bonds (+ 4.1%). The flexible funds you are stopped at a performance of 2.1%.

The comparison with the yield on 12 months Bot firm in 2014 to 0.6% Net gives then a gap of more than 3 percentage points to the system of funds, whose assets under management at the beginning of the year amounted to 218 billion euro. Even in the medium term, ie over a period of five years, the evolution of the performance of the funds (13.9% combined) is higher by 3.7% to 10.2% of the gain realized through the Bot to 12 months.

But it’s the long term that will record the mournful notes. The returns in the long term are still unsatisfactory: those who invest in mutual funds open in the last 31 years have changed with respect to a post annual Bot to 12 months, a loss just below the initial value of the assets, increased during the period of only 4.1 times against 5 of Bot. “Based on the risk-free rate (zero risk), the result of funds shows a destruction of value of around € 115 billion in the last fifteen years,” says research by Mediobanca. But it continued to improve the net, that after nine years of red 2003-20012, was positive for 33 billion in 2014, thereby returning to the levels before the crisis of 2008. The Italian asset management remains a lagging tail and stops at 14th place in the European rankings (he was fourth in 2004) with a percentage of assets under management on the GDP of 12% (against 42% in 1999). In the same period in Europe the incidence of managed assets to GDP rose from 49% to 79%.

The data debut of 2015 confirm this upward trend . In the first quarter of the year there was a positive balance of 10.1 billion euro between redemptions and new subscriptions for the Italian funds, and 14.5 billion for the round trip management (promoted abroad by managers Italian). The average performance is estimated in the order of 4.6%.

8 August 2015 (amendment August 8th, 2015 | 16:50)

© ALL RIGHTS RESERVED